SOURCE: Canamax Energy Ltd.

Canamax Energy Ltd.

August 28, 2015 12:30 ET

Canamax Announces Grant of Stock Options

CALGARY, AB--(Marketwired - August 28, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR DISTRIBUTION TO ANY UNITED STATES NEWSWIRE SERVICES

Canamax Energy Ltd. ("Canamax" or the "Company") (TSX VENTURE: CAC) announced that the Board of Directors of the Company has approved a resolution to grant an aggregate of 4,197,500 stock options ("Options") to acquire common shares of the Company pursuant to the Company's Stock Option Plan (the "Plan"), of which 2,762,500 were granted to officers and directors of the Company, and the remaining options granted to employees and consultants. The Options have an exercise price of $0.30, which was based on a premium to the five day volume weighted average trading price of $0.27 for the Company's common shares on the TSX Venture Exchange. The Options vest as to one-third on April 15, 2016, one-third on April 15, 2017 and one-third on April 15, 2018. The Options vesting in each tranche will expire in accordance with the Plan and not later than one year from the date which such Options vested.

About Canamax

Canamax is a Montney oil focused junior oil and gas company with its core assets located in the Greater Grimshaw area of Northwestern Alberta.

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

  • Brad Gabel
    President & CEO
    (587) 349-5186

    Chris Martin, CA
    Vice President, Finance & CFO
    (587) 349-5186
    Website - www.canamaxenergy.ca