Pine Cliff Energy Ltd. announces granting of stock options
TSX - Toronto Stock Exchange
CALGARY, April 10 /CNW/ - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Corporation") (TSX Venture: PNE) announces that, in accordance with the Corporation's stock option plan, the Corporation has granted stock options to purchase 815,000 common shares of the Corporation at an exercise price of $0.50 to certain directors, officers, employees and consultants of the Corporation. These stock options expire January 31, 2010 and vest over one or two year periods. After the issuance of these stock options there will be a total of 2,501,000 options outstanding which represents 6.9% of the total issued shares.
Forward Looking Statements
This press release may contain forward-looking statements including expectations of future production, cash flow and earnings. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projects relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from the potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect Pine Cliff's operations or financial results are included in Pine Cliff's reports on file with Canadian securities regulatory authorities that may be accessed at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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