Northern Frontier Corp.

Northern Frontier Corp.

March 31, 2016 18:01 ET

Northern Frontier Corp. Announces Cancellation of Share Options

CALGARY, ALBERTA--(Marketwired - March 31, 2016) - Northern Frontier Corp. (TSX VENTURE:FFF) (the "Corporation") announces that its board of directors (the "Board") has approved and the respective holders have agreed to the cancellation of the following share options ("Options") previously made to its directors, senior officers and management of the Corporation:

  • 331,500 Options granted October 4, 2013 entitling the holder to acquire up to an aggregate of 331,500 common shares of the Corporation (the "Shares") at an exercise price of $3.50 per Share; and
  • 80,500 Options granted December 31, 2014 entitling the holder to acquire up to an aggregate of 80,500 Shares of the Corporation at an exercise price of $3.50 per Share.

All Options were granted under the Corporation's Option plan, had a five-year term and vest (as to one third of the number of Shares that may be purchased) on the first, second and third anniversaries of the date of grant.

About Northern Frontier Corp.

Northern Frontier's strategic objective is to create a large industrial and environmental services business through a buy and build growth strategy. Currently, the Corporation provides: civil construction, excavation, fabrication and maintenance services to the industrial industry, bulk water transfer logistic services and installs and dismantles remote workforce lodging and modular offices in western Canada.

The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "FFF".

Neither TSX Venture Exchange 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.

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