CALGARY, ALBERTA--(Marketwired - March 10, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) announces that it has granted stock options ("Options") to acquire 1,742,000 common shares in the capital of Storm ("Common Shares") pursuant to its stock option plan, 708,500 of which were granted to the directors and officers of Storm. The Options vest over three years (1/3 on each of the first, second and third anniversary of the grant date), are exercisable at a price of $4.68 per Common Share and expire on March 10, 2018.
Upon the granting of the Options described above, Storm will have 5,638,500 Options outstanding, which represents approximately 5.1% of the 109,612,312 Common Shares currently outstanding. Storm's stock option plan currently limits the issuance of Options to no more than 10% of the outstanding Common Shares.
Storm began operations in August, 2010. Storm is headquartered in Calgary, Alberta and is active in the Umbach and Horn River Basin areas of northeast British Columbia, and in the Grande Prairie area of northwest Alberta.
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.