Arcan Resources Ltd.
TSX VENTURE : ARN

Arcan Resources Ltd.

December 02, 2011 13:26 ET

Arcan Resources Ltd. Issues Options

CALGARY, ALBERTA--(Marketwire - Dec. 2, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Arcan Resources Ltd. ("Arcan") (TSX VENTURE:ARN) announces that on December 1, 2011, pursuant to the provisions of its stock option plan, it granted an aggregate of 998,000 options to acquire an equivalent number of common shares of Arcan to certain directors, officers and employees of Arcan. The options have an exercise price of $4.60 per share and expire on December 1, 2016. All stock option grants of Arcan are subject to receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange.

About Arcan

Arcan Resources Ltd. is an Alberta, Canada corporation that is principally engaged in the exploration, development and acquisition of petroleum and natural gas located in Canada's Western Sedimentary Basin.

Neither 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

  • Arcan Resources Ltd.
    Ed Gilmet
    President & Chief Executive Officer
    (403) 262-0321
    egilmet@arcanres.com

    Arcan Resources Ltd.
    Douglas Penner
    Executive Vice President & Chief Financial Officer
    (403) 262-0321
    dpenner@arcanres.com

    Arcan Resources Ltd.
    Suite 2500, 308 - 4th Avenue S.W.
    Calgary, AB T2P 0H7
    (403) 262-0321