GreenAngel Energy Corp.
TSX VENTURE : GAE

GreenAngel Energy Corp.

April 06, 2015 18:37 ET

GreenAngel Stock Option Plan and Option Grants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 6, 2015) - GreenAngel Energy Corporation ("GreenAngel") (TSX VENTURE:GAE) announces that at the Company's Annual General Meeting to be held on April 7, 2015, it will seek shareholder approval for its new Stock Option Plan as described in the Company's Management Information Circular.

Under the 2015 Stock Option Plan, the Board may from time to time, in its discretion, and in accordance with the requirements of the TSX Venture Exchange, grant to directors, officers and technical consultants to the Company, non-transferable options to purchase Common Shares.

Under the 2015 Stock Option Plan, the aggregate number of Common Shares that may be reserved for issuance under the 2015 Stock Option Plan, together with any Common Shares reserved for issuance under any other share compensation arrangement implemented by the Company, shall be equal to 10% of the outstanding Common Shares from time-to-time. If any options granted under the 2015 Stock Option Plan shall expire, terminate or be cancelled for any reason without having been exercised in full, any unpurchased Common Shares to which such options relate shall be available for the purposes of granting of further options under the Stock Option Plan.

When combined with any other share compensation arrangement: the aggregate number of Common Shares reserved for issuance pursuant to Options granted to any one person in any twelve month period may not exceed 5% of the Outstanding Issue; the aggregate number of Common Shares reserved for issuance pursuant to Options granted to insiders, as a group, at any point in time, may not exceed 10% of the Outstanding Issue; the aggregate number of Common Shares reserved for issuance pursuant to Options granted to insiders, as a group, within a twelve month period, may not exceed 10% of the Outstanding Issue calculated at the date an Option is granted to any insider; the aggregate number of Common Shares reserved for issuance pursuant to Options granted to any one consultant in any twelve month period, may not exceed 2% of the Outstanding Issue; and the aggregate number of Common Shares reserved for issuance pursuant to Options granted to persons retained to provide investor relations activities (which includes any employee or director whose role and duties primarily consist of investor relations activities), as a group, in any twelve month period, may not exceed 2% of the Outstanding Issue. Options issued to persons retained to provide investor relation activities must vest in stages over a period of not less than twelve months, with no more than one-quarter of the Options vesting in any three month period.

The Company reports that the following stock option grants have been awarded in the past two years and are currently outstanding:

On April 30, 2013, 500,000 options were granted to five directors to purchase shares at an exercise price of $0.10 until April 30, 2018.

On April 15, 2014, 445,000 options were granted to five directors to purchase shares at an exercise price of $0.10 until April 15, 2019.

The total number of stock options currently outstanding is 1,720,000 which is the maximum permitted under the New Plan. On June 21, 2015 there are 400,000 options exercisable at $0.20 that will expire.

About GreenAngel Energy

GreenAngel Energy Corp. is a green energy technology commercialization company. Our main focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also provides business and advisory services to help ensure these companies achieve commercial success. For more information, please visit www.greenangelenergy.ca.

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.

ON BEHALF OF THE BOARD

Michael C Volker, CEO and Director

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.

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