SOURCE: Canamax Energy Ltd.

Canamax Energy Ltd.

November 07, 2014 17:00 ET

Canamax Announces Grant of Stock Options

CALGARY, AB--(Marketwired - November 07, 2014) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) is pleased to announce that the Board of Directors of the Company has approved a resolution to grant an aggregate of 500,000 stock options ("Options") to acquire common shares of the Company pursuant to the Company's Stock Option Plan, of which 225,000 were granted to officers of the Company, 225,000 were granted to certain of the Company's employees and consultants and 50,000 were granted to an investor relations consultant. The Options granted to the Company's officers, employees and consultants have an exercise price of $0.88, based on the trailing 5-day volume weighted average price, and are for a term of 5 years, with one-third of the Options vesting immediately and one-third of the Options vesting on each of the first and second anniversaries of the grant date. The Options granted to the investor relations consultant have an exercise price of $1.36 and are for a term of 2 years, with one-quarter of the Options vesting on each of January 1, 2015, April 1, 2015, July 1, 2015 and October 1, 2015.

About Canamax

Canamax is a junior oil and gas company in the business of consolidating micro-cap oil and gas companies and exploiting low risk development opportunities in the Western Canadian Sedimentary Basin.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information contact:

    Brad Gabel 
    President & CEO 
    (587) 349-5186 

    Chris Martin, CA
    Vice President, Finance & CFO
    (587) 349-5186

    Website - www.canamaxenergy.ca