October 22, 2010 07:30 ET

Triple 8 Announces Granting of Stock Options

CALGARY, ALBERTA--(Marketwire - Oct. 22, 2010) - Triple 8 Energy Ltd. ("Triple 8" or the "Company") (TSX VENTURE:TEE) announces that it granted options on October 22, 2010 to acquire up to 23,592,000 Common Shares of Triple 8, 23,347,269 of which were granted to the directors and officers of Triple 8.

Each grant of options is for a five year term, expiring on October 22, 2015. 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 $0.08 per Common Share.

There are now options outstanding to purchase a total of 23,592,000 Common Shares of Triple 8, or approximately 10% of Triple 8's issued and outstanding Common Shares.

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

  • Triple 8 Energy Ltd.
    Trevor Spagrud
    President & Chief Executive Officer
    (403) 470-5499
    Triple 8 Energy Ltd.
    Doug Bailey
    Chief Financial Officer
    (403) 815-7024