Arcan Resources Ltd.
TSX VENTURE : ARN

Arcan Resources Ltd.

September 07, 2012 20:50 ET

Arcan Resources Ltd. Issues Options

CALGARY, ALBERTA--(Marketwire - Sept. 7, 2012) -

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 September 7, 2012, pursuant to the provisions of its stock option plan, it granted an aggregate of 1,107,000 options to acquire an equivalent number of common shares of Arcan to certain officers and employees of Arcan. No directors were issued options in this grant. The options have an exercise price of $1.33 per share. The options expire on September 7, 2017. All stock option grants of Arcan are subject to receipt of the necessary regulatory approvals.

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.
    Terry McCoy
    Chief Executive Officer
    tmccoy@arcanres.com

    Arcan Resources Ltd.
    Douglas Penner
    President
    dpenner@arcanres.com

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