CALGARY, Oct. 24, 2013 /CNW/ – Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Corporation“) announced today that it has granted incentive stock options for a total of 6,700,000 common shares of the Corporation at a price of $0.05 per share for a period of five years, under the formal stock option plan approved at the Annual General Meeting held on December 12, 2012, subject to regulatory approval, to a directors, officers, and consultants (including 500,000 stock options to the Corporation’s investor relations firm, Cavalcanti Hume Funfer Inc. (“CHF”), such options issued to CHF vesting in stages over a 12 month period with ¼ of the options vesting every 3 months) of the Corporation. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options are subject to a four month hold period.
ABOUT EMERALD BAY
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with production properties in Western Canada and South Texas. The common shares of Emerald Bay trade on the TSX Venture Exchange under the symbol “EBY”. Please visit our website at www.emeraldbayenergy.com.
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SOURCE Emerald Bay Energy Inc.
For further information:
Emerald Bay Energy Inc.: President, Shelby D. Beattie, by telephone at (403) 262-6000 or by email at firstname.lastname@example.org,
CHF Investor Relations: Robin Cook, Senior Account Manager, (416) 868-1079 x228, email@example.com.