CALGARY, Alberta – Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces that its board of directors (the “Board”) has approved the granting of 816,000 incentive stock options (“Options”) to acquire common shares (“Common Shares”) of the Company under its stock option plan. An aggregate of 631,000 Options were granted to certain of its directors and officers and 185,000 Options were granted to certain of its employees (collectively, the “Option Grant”).
All of the Options are exercisable for a period of five years at an exercise price of $1.00 per Common Share, which is a premium to the last closing price of $0.95 of the Common Shares on the TSXV. One-third of the Options will vest on the date that is one year after the date of the grant of such Options and the remainder will vest one-third per year thereafter.
Razor is a publicly traded junior oil and gas development and production company headquartered in Calgary, Alberta, concentrated on acquiring, and subsequently enhancing, and producing oil and gas from properties primarily in Alberta. The Company is led by experienced management and a strong, committed Board of Directors, with a long-term vision of growth focused on efficiency and cost control in all areas of the business. Razor currently trades on TSX Venture Exchange under the ticker “RZE.V”.
FutEra leverages Alberta’s resource industry innovation and experience to create transitional power and sustainable infrastructure solutions to commercial markets and communities, both in Canada and globally. Currently, it is developing a 21 MW co-produced geothermal and natural gas hybrid power project in Swan Hills, Alberta.
Blade Energy Services is a subsidiary of Razor. Operating in west central Alberta, Blade’s primary services include fluid hauling, road maintenance, earth works including well site reclamation and other oilfield services.