Groundstar Resources Limited
TSX VENTURE : GSA

Groundstar Resources Limited

September 01, 2011 10:25 ET

Groundstar Resources Limited Announces Re-Pricing of Granted Incentive Stock Options

CALGARY, ALBERTA--(Marketwire - Sept. 1, 2011) - Groundstar Resources Limited ("Groundstar") (TSX VENTURE:GSA)

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Kam Fard, President and Chief Executive Officer of Groundstar Resources Limited is pleased to announce that, subject to TSX Venture Exchange approval, Groundstar has amended the exercise price of the 1,980,000 incentive stock options to certain officers, directors, employees and consultants of Groundstar pursuant to its Stock Option Plan, which was announced in the News Release of August 26. These options will be exercisable at a price of $0.10 per share, fully vested by August 26, 2012 and will expire on August 26, 2016.

Groundstar is a publicly traded Canadian junior oil and gas company actively pursuing exploration opportunities in Guyana, North Africa and the Middle East.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

Contact Information

  • Groundstar Resources Limited
    Kam Fard
    President
    (403) 265-2549
    kfard@groundstarresources.com

    Groundstar Resources Limited
    David Johnson
    Corporate Secretary
    (403) 265-2549