Business
Pine Cliff Energy Ltd. announces granting of stock options
Pine Cliff Energy Ltd. announces granting of stock options.
About this update from Pine Cliff Energy Ltd.
[{"type":"text","content":"\n\n\n\nTSX Venture: PNE\n\n\nCALGARY, Oct. 30 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or the\n"Corporation") announces that, in accordance with the Corporation's stock\noption plan, the Corporation has granted stock options to purchase\n1,006,000 common shares of the Corporation (including 525,000 granted to\nofficers and directors) at an exercise price of $1.18 to certain directors,\nofficers, employees and consultants of the Corporation. These stock options\nexpire June 30, 2010 and vest over one or two year periods. After the issuance\nof these stock options there will be a total of 3,053,000 options outstanding\nwhich represents 6.7% of the total issued shares. The grant of the foregoing\noptions is subject to the approval of the Exchange and, if requested by the\nExchange, the shareholders of the Corporation.\n\n\nForward Looking Statements\n\n\nThis press release may contain forward-looking statements including\nexpectations of future production, cash flow and earnings. These statements\nare based on current expectations that involve a number of risks and\nuncertainties, which could cause actual results to differ from those\nanticipated. These risks include, but are not limited to: the risks associated\nwith the oil and gas industry (e.g. operational risks in development,\nexploration and production; delays or changes in plans with respect to\nexploration or development projects or capital expenditures; the uncertainty\nof reserve estimates; the uncertainty of estimates and projects relating to\nproduction, costs and expenses, and health, safety and environmental risks),\ncommodity price, price and exchange rate fluctuation and uncertainties\nresulting from the potential delays or changes in plans with respect to\nexploration or development projects or capital expenditures. Additional\ninformation on these and other factors that could affect Pine Cliff's\noperations or financial results are included in Pine Cliff's reports on file\nwith Canadian securities regulatory authorities that may be accessed at\nwww.sedar.com.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n%SEDAR: 00021536E\n\n\n","length":2267,"tagName":"div"}]