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CALGARY, Nov. 30, 2016 /CNW/ – Altura Energy Inc. (“Altura” or the “Corporation”) (TSX Venture: ATU) announces that in accordance with its long-term compensation policy which includes an annual grant of stock options (“Options”) to its employees, officers and directors, Altura's Board of Directors has granted Options to acquire 1,770,000 common shares in the capital of Altura (“Common Shares”), of which 1,535,000 were granted to officers and directors of the Corporation. The Options are exercisable at $0.27 per share, expire in five years and vest as to one-third on each of the first, second and third anniversaries of the date of granting.
Upon the granting of the Options described above, Altura will have 5,570,000 Options outstanding, which represents approximately 5.1 percent of the 108,920,973 Common Shares of the Corporation currently outstanding. Altura's stock option plan limits the issuance of Options to no more than 10 percent of the outstanding common shares.
About Altura Energy Inc.
Altura Energy Inc. is a public oil and gas corporation active in the exploration and development of oil and natural gas in east central 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.
SOURCE Altura Energy Inc.