Ammonite Energy Ltd.
TSX VENTURE : AMO

February 19, 2009 08:30 ET

Ammonite Energy Ltd. Grants Options

CALGARY, ALBERTA--(Marketwire - Feb. 19, 2009) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Ammonite Energy Ltd. (TSX VENTURE:AMO) ("Ammonite" or the "Company") announces that it granted options on February 18, 2009 to acquire up to 2,320,000 common shares ("Common Shares") of Ammonite, 1,800,000 of which were granted to directors and officers. Each grant of options is for a three year term, expiring on February 18, 2012. The options vest over two years (1/3 immediately, and 1/3 on each of the first and second anniversaries of the grant date). The options are exercisable at a price of $0.25 per Common Share.

Ammonite has 27,974,938 Common Shares issued and outstanding which trade on the TSX Venture Exchange under the symbol "AMO".

Ammonite is the result of a business combination with Ketchum Capital Corporation ("Ketchum"), a capital pool company listed on the TSX Venture Exchange, and Ketchum Acquisition Corporation pursuant to which Ketchum acquired all of the issued and outstanding common shares of Ammonite. The Acquisition constituted the Qualifying Transaction of Ketchum as defined in the policies of the TSX Venture Exchange. On January 19, 2009, the shareholders of Ketchum approved a change in the name of the Company from "Ketchum Capital Corporation" to "Ammonite Energy Ltd." and the consolidation of its common shares on the basis of one post-consolidation common share for every five pre-consolidation common shares. On January 22, 2009, the post-consolidation common shares of the Company commenced trading under the trading symbol "AMO".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Ammonite Energy Ltd.
    Mr. Stephen N. Ewaskiw
    President and Chief Executive Officer
    (403) 263-9505
    or
    Ammonite Energy Ltd.
    Suite 1200, 520-5th Ave S.W.
    Calgary, Alberta, T2P 3R7