CALGARY, Dec. 19, 2017 /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 1,640,000 common shares in the capital of Altura
("Common Shares"), of which 1,590,000 were granted to officers and
directors of the Corporation. The Options are exercisable at
$0.405 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 7,210,000 Options outstanding, which represents approximately
6.6 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 is a junior oil and gas exploration, development and
production company with operations in central and east central
Alberta. Altura predominantly
produces from the Sparky and Rex reservoirs in the Upper Mannville
group and is focused on delivering per share growth and attractive
shareholder returns through a combination of organic growth and
strategic acquisitions.
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.