CALGARY, Alberta, Jan. 10, 2018 (GLOBE NEWSWIRE) — (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce the date and location of its 2018 Annual General and Special Meeting of Shareholders and the grant of stock options to its officers and directors.
2018 Annual and Special Meeting
Blackbird is pleased to announce that its 2018 Annual and Special Meeting of Shareholders will be held on March 7, 2018 at 2 P.M. in the Grand Lecture Theatre at the Metropolitan Conference Centre, 333 4th Avenue S.W., Calgary, Alberta (the “Meeting”).
A management information circular and related meeting materials will be mailed to Blackbird registered shareholders on January 30, 2018 and will be available under the Company’s profile on SEDAR at www.sedar.com.
Shareholders who are unable to attend the Meeting in person will be able to listen to the conference call and concurrently view a live webcast presentation of the Meeting. The dial-in and log-in information for the conference call and webcast will be made available on Blackbird’s website at www.blackbirdenergyinc.com one week prior to the Meeting.
Stock Option Grant
Blackbird has granted 8,414,384 stock options (“Options”) to its officers and directors at an exercise price of $0.33 per share. The Options have been granted pursuant to Blackbird’s 10.0% rolling stock option plan and will expire five years from the date of grant. One third of the Options will vest immediately, one third of the Options will vest on January 10, 2019, and the final third of the Options will vest on January 10, 2020.
Subsequent to this stock option grant, Blackbird will have a total of 43,203,040 Options outstanding, representing approximately 5.8% of its issued and outstanding common shares. As a result, Blackbird has a substantial number of unallocated options that are available for grant. The Company has taken this conservative approach of maintaining these positions to minimize dilution, ensure option availability for future strategic allocations, and thereby enhance shareholder value.
Blackbird Energy Inc. is a highly innovative oil and gas exploration and development company focused on the condensate and liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta.
For more information, please view our Corporate Presentation at www.blackbirdenergyinc.com or contact:
Blackbird Energy Inc.
Chairman, CEO, and President
Chief Financial Officer
(403) 699-9929 Ext. 111
Manager, Business Development
(403) 699-9929 Ext. 103
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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 press release.