CanElson Drilling Inc.

CanElson Drilling Inc.

June 15, 2009 16:00 ET

CanElson Grants Stock Options

CALGARY, ALBERTA--(Marketwire - June 15, 2009) - CanElson Drilling Inc. ("CanElson") (TSX VENTURE:CDI) announced today that it has granted an aggregate of 78,000 stock options to its two new recently appointed directors at an exercise price of $1.95 per share. These options will vest as to one-third one year from the date of grant, one-third two years from the date of grant and one-third three years from the date of grant with each respective one-third expiring on the date that the subsequent one-third vests such that the final one-third of the options expires four years from the date of grant. The total number of options outstanding as of the date hereof is 1,249,500.

CanElson is an Alberta, Canada corporation that is currently engaged in the manufacture and operation of drilling rigs in Canada's Western Sedimentary Basin.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • CanElson Drilling Inc.
    Elson J. McDougald
    Chairman and Chief Executive Officer
    (403) 266-3922 ext. 226
    CanElson Drilling Inc.
    Randy Hawkings
    President and Chief Operating Officer
    (403) 266-3922 ext. 225