CALGARY, ALBERTA--(Marketwired - Aug. 15, 2013) - CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM", or the "Company"), an emerging oil and gas company with interests in Tunisia and Italy, announces that pursuant to the terms and conditions of its stock option plan, it has granted 1,804,200 stock options to purchase Common Shares of CYGAM (the "Options") to certain directors, officers and consultants of the Company at an exercise price of $0.10 per share. The Options vest one third on July 1, 2014, one third on July 1, 2015 and the remaining third on July 1, 2016 and expire two years after the respective vesting dates.
Following the grant of these options there will be 12,166,867 stock options outstanding. The Company has 113,800,937 issued and outstanding common shares.
About CYGAM Energy Inc.
CYGAM is a Calgary based exploration company with extensive international exploration permits and producing properties in Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 2.6 million gross acres.
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 release.