CALGARY, ALBERTA–(Marketwired – Jan. 19, 2016) – Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSX VENTURE:SPI)(OTCBB:CSPUF) announces that the Corporation has granted options to acquire 1,600,000 common shares of the Corporation in accordance with the terms and conditions of the Corporation’s Stock Option Plan.
Two independent directors of the Corporation were each granted options to purchase 100,000 common shares as compensation for their services. Three executive officers were granted options to purchase a total of 1,400,000 common shares as incentive compensation. All the options have a term of five years and may be exercised at a price of $0.20 per share. The grant of options will result in a total of 8,030,000 options outstanding at a weighted average exercise price of $0.38 per share, and will represent 5.5 percent of the total common shares currently outstanding.
CSRI is a natural resources Corporation focusing on the identification and development of opportunities in the unconventional natural gas sector of the energy industry.