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New Zealand Energy Corp. (TSXV: NZ) ("NZEC" or the "Company") announces that it has granted stock options (the "Options") to certain directors, officers, and employees of the Company to purchase up to an aggregate of 3,250,000 common shares in the capital of the Company (the "Common Shares").
The Options are exercisable at a price of C$0.45 per Common Share for a period of five (5) years from the date of grant. The Options vest immediately upon grant and are subject to the terms and conditions of the Company's stock option plan and the policies of the TSX Venture Exchange.
The grant of Options is intended to align the interests of management, directors, and staff with those of shareholders and to provide long-term incentives linked to the growth and performance of the Company.
About New Zealand Energy Corp.
NZEC is a publicly listed energy company focused on the development of oil, gas, and gas-storage opportunities in New Zealand. The Company holds interests in multiple heritage assets and development-stage projects, including the Tariki Gas Storage Project in Taranaki. With a 50% ownership stake in the Waihapa production station, the Company can quickly tie in any near-term production and sell directly to market. For more information, please visit www.newzealandenergy.com.
For further information:
Toby Pierce, Chief Executive Officer
Email: info@newzealandenergy.com
Website: www.newzealandenergy.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical fact, are forward-looking statements. Forward-looking statements in this release include, but are not limited to, statements regarding the intended alignment of interests between management and shareholders, the anticipated benefits of the Option grant, and the Company's future growth and performance.
Forward-looking statements are based on management's current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Accordingly, readers should not place undue reliance on forward-looking statements. NZEC does not undertake any obligation to update forward-looking statements, except as required by applicable securities laws.
This release is for information purposes only and does not constitute an offer or solicitation to buy or sell any securities. Technical and operational information is preliminary, subject to change, and may depend on future study results, commercial negotiations, and regulatory approvals.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285315
