Newton Energy Corporation

June 18, 2008 17:55 ET

Newton Energy Announces Granting of Options

CALGARY, ALBERTA--(Marketwire - June 18, 2008) - Newton Energy Corporation ("Newton" or the "Company") announces that its Board of Directors has approved the granting of 1,250,000 stock options to the Company's directors, officers and consultants, subject to regulatory and TSX Venture Exchange approval. The options were issued with an exercise price of $0.50 per share, vest immediately and have a five year term. Pursuant to applicable securities legislation the options are subject to a four month and one day hold period.

About Newton Energy

Newton is in the business of exploration and development of petroleum in the East Midlands Basin onshore in the United Kingdom. On May 28, 2008 the Department of Business, Enterprise and Regulatory Reform awarded Newton Energy UK Ltd. ("Newton UK"), a wholly owned subsidiary of Newton based in Nottingham UK, Petroleum Exploration and Development Licenses covering six full blocks comprising 150,000 acres in the East Midlands Basin of the UK. Newton is presently pursuing the necessary regulatory approvals for its drilling program projected for Q4 of this year.

The Company must meet the minimum listing requirements of the TSX Venture Exchange before its common shares will be reinstated for trading. A further press release will be issued when the Company meets minimum listing requirements.

ADVISORY:

Certain information regarding Newton Energy Corporation including managements assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with production, marketing and transportation such as loss of market, volatility of prices, currency fluctuations, environment risks, competition from other producers and ability to assess sufficient capital from those anticipated in the forward-looking statements.

The TSX Venture Exchange has neither approved or disapproved the contents of this news release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Newton Energy Corporation
    Michael Frey
    President and CEO
    (403) 410-3826
    Email: newtonenergy@shaw.ca
    or
    Newton Energy Corporation
    200, 638 - 11th Avenue SW
    Calgary, Alberta T2R 0E2