Online Energy Inc.

August 31, 2011 07:30 ET

Online Energy Inc. Announces Issuance of Options

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2011) - Online Energy Inc. (the "Company or Online") (TSX VENTURE:ONL) announces that it granted options on August 31, 2011 to acquire up to 3,025,000 Common Shares of Online, 2,350,000 of which were granted to directors and officers of Online. Each grant of options is for a five year term, expiring on August 31, 2016. The options vest over three years (1/3 on each of the first, second and third anniversary of the grant date). The options are exercisable at a price of $0.50 per Common Share. The Common Shares of Online closed at $0.31 on August 30, 2011.

There are now options outstanding to purchase a total of 3,888,333 Common Shares of Online, or approximately 9.41% of Online's issued and outstanding Common Shares. In addition, the Company has performance warrants outstanding to purchase a total of 3,166,316 Common Shares of Online or 7.66% of Online's issued and outstanding Common Shares.

Online is a domestic junior oil and gas exploration and production company with producing properties and more than 54,000 net acres of undeveloped land in Alberta. Interested parties are invited to view the Company's updated corporate presentation which is on its website at

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Online Energy Inc.
    Steve Dabner
    President & Chief Executive Officer
    (403) 262-1901 ext. 228

    Online Energy Inc.
    Thomas Love
    Chief Financial Officer
    (403) 262-1901 ext.227