Torquay Oil Corp.
TSX VENTURE : TOC.A
TSX VENTURE : TOC.B

August 31, 2010 15:47 ET

Torquay Announces Stock Option Grant

CALGARY, ALBERTA--(Marketwire - Aug. 31, 2010) -

THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES, TO UNITED STATES NEWS WIRE SERVICES OR TO UNITED STATES PERSONS.

Torquay Oil Corp. (TSX VENTURE:TOC.A) (TSX VENTURE:TOC.B) has today granted an aggregate of 1,227,500 stock options to directors, officers, employees and consultants of the Corporation, of which, 912,500 stock options were granted to directors and officers, in accordance with Torquay's incentive stock option plan. All of the options are exercisable at $1.05 per share, vest in equal tranches of one-third on each of the first, second and third anniversaries of the date of grant and expire after five years.

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

Contact Information

  • Torquay Oil Corp.
    Mr. Brent McKercher
    President & Chief Executive Officer
    403 233 2444 ext. 30
    403 262 6991 (FAX)
    brent@torquayoil.com
    or
    Torquay Oil Corp.
    Mr. Darwin Little
    Vice President, Finance & Chief Financial Officer
    403 233 2444 ext. 31
    403 262 6991 (FAX)
    darwin@torquayoil.com