CALGARY, ALBERTA--(Marketwire - Dec. 19, 2012) - Albion Petroleum Ltd. ("Albion" or the "Corporation") (TSX VENTURE:ABP.H) announces that, subject to regulatory approval, it has granted a total of 700,000 options to directors and officers of the Corporation to purchase common shares of the Corporation in accordance with its stock option plan. These options were issued fully vested with an exercise price of $0.15 per share with an expiry date of 5 years from the date of issuance.
The Corporation has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors and officers of the Corporation (Formal Valuation -- Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Albion assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Albion. A description of assumptions used to develop such forward looking-statements and additional information identifying risks and uncertainties in respect of forward-looking statements is contained in certain of Albion's filings and disclosure documents which can be found on the SEDAR Website at www.sedar.com.
Neither the NEX Board, 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 of accuracy of this news release.