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Georox Resources announces issuance of directors stock options
Georox Resources announces issuance of directors stock options Georox Resources an...
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\nGeorox Resources announces issuance of directors stock options\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGeorox Resources announces issuance of directors stock options\nCanada NewsWire\nKELOWNA, BC, Oct. 7, 2016\n\n\n\nNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\n\n\nKELOWNA, BC, Oct. 7, 2016 /CNW/ - Georox Resources Inc. (\"Georox\" or the \"Corporation\") (GXR:TSX-V; OF6A:FRA) announces the issuance  of incentive stock options to the Directors of the Corporation  to acquire up to an aggregate of 1,000,000 common shares of the corporation at an exercise price of $0.10 per share. All such options are exercisable for a period of five years and the shares are vested on a quarterly basis of not less than eighteen months from the date of grant.\n\nUpon granting of the options described above, Georox will have 1,200,000 options outstanding which represents 5% of the issued and outstanding shares.\n\nThe Corporation currently produces approximately 140 boepd of which 75% is light oil, 24% is heavy oil and 1% is gas.\n\nProduction volumes are commonly expressed on a barrel of oil equivalent (\"BOE\") basis whereby natural gas volumes are converted at a ratio of six thousand cubic feet to one barrel of oil.  The intention is to convert oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants.  The term BOE may be misleading, particularly if used in isolation.  The conversion ratio is based on an energy equivalent method and does not represent an economic value equivalency at the wellhead.\n\nFORWARD-LOOKING STATEMENTS\n\nThis news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts. Forward-looking statements are often identified by terms such as \"will\", \"may\", \"should\", \"anticipate\", \"expects\" and similar expressions.  All statements other than statements of historical fact, included in this release, includ...