Avatar Energy Ltd. Announces Grant of Stock Options
12 Janeiro 2012 - 3:35PM
Marketwired Canada
Avatar Energy Ltd. ("Avatar" or the "Corporation") (TSX VENTURE:AVG), today
announces that it has granted options to purchase an aggregate of 100,000 common
shares of the Corporation at an exercise price of $0.20 per share to certain a
director of the Corporation. The options vest at the rate of one-third on each
of the first, second and third anniversaries of the date of grant and expire
five years from the date of grant.
There are currently 2,125,552 common shares of Avatar reserved for issuance
under the Corporation's stock option plan.
The grant of the stock options is subject to TSX Venture Exchange approval.
Avatar is an emerging junior oil and gas company with production in Alberta. The
Corporation's area of focus is on properties in the Pembina Cardium light oil
play that have long life high quality reserves with repeatable drilling upside.
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