Eaglewood Energy Inc.
TSX VENTURE : EWD

Eaglewood Energy Inc.

July 06, 2011 17:42 ET

Eaglewood Energy Announces Extension of Performance Warrant Terms

CALGARY, ALBERTA--(Marketwire - July 6, 2011) - Eaglewood Energy Inc. ("Eaglewood") (TSX VENTURE:EWD) is pleased to announce that it has final regulatory approval to extend the expiry terms of certain performance warrants granted to its executive officers.

In November 2008, Eaglewood granted performance warrants to its executive officers, with an original expiration date of November 21, 2011. At the shareholder meeting held on June 16, 2011, disinterested shareholders of Eaglewood approved a two-year extension to the terms of said performance warrants for certain executive officers such that these performance warrants would expire on November 21, 2013. Eaglewood had subsequently received approval from the TSX Venture Exchange for the extension. The performance warrants are well out-of-the-money at the current common share price and the board of directors believes that extending the term would preserve the incentive value for the current executives who hold performance warrants. For details regarding the terms of these performance warrants, please refer to Eaglewood's press release dated November 21, 2008, a copy of which is available under Eaglewood's profile at www.sedar.com.

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.

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