QUEBEC CITY, QUEBEC--(Marketwired - Nov. 18, 2016) - Pétrolia (TSX VENTURE:PEA) announces that in accordance with its compensation policy, and its stock option plan, which is to grant stock options each year to its employees and directors, Pétrolia's Board of Directors granted on November 17, 2016, 1,787,500 stock options to its employees and directors. The price has been set at $0.165 per share, and the expiry date for these options is November 16, 2021. Certain of the options vest over a three year period.
Pétrolia is a Quebec junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km², which represents almost 23% of the Québec territory under lease. Pétrolia is a leader in gas and petroleum exploration in Quebec and its vision is to produce oil from here, by the people here, for here. Social and environmental considerations are at the heart of Pétolia's concerns and exploration processes. Via its subsidiary, Investissements PEA Inc., Pétrolia holds a 21.7% interest in Anticosti Hydrocarbons L.P., and Pétrolia's subsidiary, Pétrolia Anticosti Inc., is the operator of the project on Anticosti Island. Pétrolia has 103,177,460 shares issued and outstanding.
Certain statements made herein may constitute forward-looking statements. These statements relate to future events or the future economic performance of Pétrolia and carry known and unknown risks, uncertainties and other factors that may appreciably affect their results, economic performance or accomplishments when considered in light of the content or implications or statements made by Pétrolia. Actual events or results could be significantly different. Accordingly, investors should not place undue reliance on forward-looking statements. Pétrolia does not intend and undertakes no obligation to update these forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.