/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, March 7 /CNW/ - Fairmount Energy Inc. ("Fairmount" or the "Company") (TSX-V - FMT) announced today that the Board of Directors has granted 360,000 stock options in accordance with the Company's stock option plan. The stock options are exercisable at $0.70 per share, expire in five years and vest as to 50% on each of the next two anniversaries of the date of granting. Employees were granted an aggregate of 30,000 options and directors and officers were granted an aggregate of 330,000 options. Including this grant of options, the Company has a total of 1,724,138 options outstanding.
Subject to receipt of required regulatory approval, the Board of Directors has also amended the terms of 60,000 previously granted employee stock options. The amended stock options are exercisable at $0.70 per share, expire on the expiry date specified in the original grant of options and vest as to 50% on each of the next two anniversaries of the date of amendment. The previous exercise price for these options was $1.50.
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or accuracy of this release.
Not for distribution to United States news wire services or for dissemination in the United States of America.