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Falcon Oil & Gas Ltd. announces the granting of stock options
(TSXV Symbol: FO) DENVER, June 5 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) announced today that, u...
About this update from Falcon Oil & Gas Ltd.
[{"type":"text","content":"\n\n\n\n(TSXV Symbol: FO)\n\n\nDENVER, June 5 /CNW/ - Falcon Oil & Gas Ltd. (TSXV: FO) announced today\nthat, under the stock option plan approved at Falcon's annual and special\nshareholders meeting held on September 18, 2007, it has granted incentive\nstock options to purchase an aggregate of 12,610,000 common shares of Falcon\nto a number of recipients, including directors, officers, employees and\nconsultants. The stock option grants are all subject to regulatory approval.\n\n\nTerms of the options include an exercise price of $1.18 per share, a\nvesting schedule allowing for 20% of the options to vest immediately with an\nadditional 20% vesting each subsequent year until the options are fully vested\non June 5, 2012, respectively, and an expiry date of the options of June 5,\n2013.\n\n\nA maximum of 10% of the issued and outstanding shares of Falcon are\nreserved for the issuance of the Falcon's stock option plan.\n\n\nAbout Falcon Oil & Gas Ltd.\n\n\nFalcon Oil & Gas Ltd. is a British Columbia corporation which is in the\nbusiness of oil and gas exploration and production. It has operations in\nHungary through its wholly-owned subsidiary TXM Exploration and Production,\nLLC, and in Romania through its wholly-owned subsidiary JVX Energy\nCorporation. Further information about Falcon is available at\nwww.falconoilandgas.com.\n\n\nIn the interests of providing Company shareholders and potential\n\n\ninvestors with information regarding the Company, including the Company's\n\n\nassessment of its and its subsidiaries' future plans and operations,\n\n\ncertain statements included in this press release may constitute forward-\n\n\nlooking information or forward-looking statements (collectively,\n\n\n"forward-looking statements"). All statements contained herein that are\n\n\nnot clearly historical in nature are forward-looking, and the words\n\n\n"anticipate", "believe", "expect", "estimate" and similar expressions are\n\n\ngenerally intended to identify forward-looking statements. Similarly,\n\n\nforward-looking statements in this press release include, but are not\n\n\nlimited to anticipated developments of the Company's drilling project in\n\n\nHungary and the timing thereof, the Company's drilling project in Romania\n\n\nand the timing thereof, capital investment l...