CALGARY, ALBERTA--(Marketwired - Dec. 4, 2013) - Canadian Spirit Resources Inc. ("CSRI" or the "Corporation") (TSX VENTURE:SPI)(OTCBB:CSPUF) announces, subject to TSX Venture Exchange (the "Exchange") acceptance, that the Corporation's Board of Directors has approved a grant of 2,450,000 options to acquire shares of the Corporation in accordance with the terms and conditions of the Corporation's Stock Option Plan.
Independent directors of the Corporation were granted a total of 300,000 options as compensation for their services. Officers and employees were granted a total of 2,150,000 options as incentive compensation. All the options have a term of five years and may be exercised at a price of $0.30 per share. Subject to acceptance by the Exchange, this grant of options will result in a total of 6,342,000 options outstanding at a weighted average exercise price of $0.58 per share, and will represent 7.0 percent of the total common shares currently outstanding.
CSRI is a natural resources Corporation focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.
Information regarding CSRI is available on SEDAR at www.sedar.com or the Corporation's website at www.csri.ca.
On behalf of the Board of Directors
CANADIAN SPIRIT RESOURCES INC.
Alfred Sorensen, Chief Executive Officer & Secretary
The corporate information contained in this news release may contain forward-looking forecast information. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonably accurate by CSRI at the time of preparation, may prove to be incorrect. The actual results achieved during the forecast period will vary from the information provided herein and the variations may be material. Consequently there is no representation by CSRI that actual results achieved during the forecast period will be the same in whole or in part as those forecast.
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 NEWS RELEASE