CALGARY, ALBERTA--(Marketwired - April 4, 2014) - Quattro Exploration And Production Ltd. ("Quattro" or the "Company") (TSX VENTURE:QXP) announces the grant of 1,100,000 stock options to certain directors, officers, employees and consultants issued pursuant to the Company's stock option plan. The options vest over a 2 year period, are exercisable at a price of $0.40 per share and expire on April 3, 2019. The shares issuable upon exercise of the options may not be traded for 4 months and one day from the date of grant.
Quattro also announces a correction to the terms of its previously announced disposition of its Noel, B.C. assets to Nordic Oil & Gas Inc. As a portion of the purchase price, Quattro received 4,000,000 common shares of Nordic ("Nordic Shares") and 1,000,000 purchase warrants ("Nordic Warrants") (rather than 4,000,000 purchase warrants as previously announced). Each Nordic Warrant is exercisable into one Nordic Share at a purchase price of $0.05 per share prior to March 16th, 2016.
About Quattro Exploration and Production Ltd.
Quattro Exploration and Production Ltd. ("QXP") continues to focus on the conventional exploration and development of oil and natural gas reserves in Western Canada, with an expanding presence in Alberta and BC. Our core low risk production base will provide us the capacity to aggressively pursue a series of high impact exploration and development efforts in Central and South America. The company intends to balance this portfolio of activities to assure its shareholders that it achieves material growth in both reserves and production.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings which are available at www.sedar.com.
This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.
Trading in the securities of Quattro Exploration & Production Ltd. should be considered highly speculative. 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.