Painted Pony Petroleum Ltd. Announces Grant of Stock Options

Painted Pony Petroleum Ltd. (TSXV:PPY.A) announced that pursuant to the terms and conditions of its Stock Option Plan, it has granted, in the aggregate, 1,177,920 incentive stock options to purchase Class “A” Shares of Painted Pony, to certain of its Directors, Officers, Employees and Consultants.

The press release is quoted as saying:

The Options are exercisable over a five year period at $6.51 per share, with 33.3% vesting immediately, 33.3% in one year, and the final 33.3% vesting in two years.

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