Iona Energy Inc.
TSX VENTURE : INA

April 13, 2012 19:37 ET

Iona Energy Announces Stock Option Grant

CALGARY, ALBERTA--(Marketwire - April 13, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) announces that pursuant to the terms of its stock option plan, Iona's Board of Directors has approved the granting of options to purchase an aggregate of 17,070,000 common shares at a price of $0.57 per share, of which, 15,650,000 options were granted to insiders. The options will have a term of five years and time vesting provisions with 25% vesting immediately and a further 25% vesting on the first, second and third anniversaries of the date of grant.

As of April 13, 2012, Iona has 320,860,568 common shares issued and outstanding.

About Iona Energy:

Iona is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.

Neither the TSX Venture Exchange Inc. 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

  • Iona Energy Inc.
    Neill A. Carson
    Chief Executive Officer
    +011 (44) 7919 057989

    Iona Energy Inc.
    Brad G. Gunn
    Chief Financial Officer
    (403) 775-7442