Huntington Announces Grant of Stock Options

CALGARY, Alberta, April 07, 2021 (GLOBE NEWSWIRE) — Huntington Exploration Inc. (TSX.V: HEI) (the “Company” or “Huntington”) announced today that, subject to regulatory approval, it has granted a total of 1,500,000 options to purchase common shares of Huntington to directors, officers and consultants of Huntington, with an exercise price of $0.24 and an expiry date of April 7, 2031. The Company relied on section 5.5(b) of Multilateral Instrument 61-101 as the exemption from ‎the formal valuation requirements of MI 61-101 in respect of the grant of options to the directors and officers of ‎the Company as the common shares of the Company are not listed on a specified market (and ‎the common shares are only listed on the TSX Venture Exchange). The Company relied on ‎section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-‎‎101 in respect of the grant of options to the directors and officers of the Company as neither the fair market ‎value of the subject matter of, nor the fair market value of the consideration for, the grant of the ‎options to the director of the Company exceeded 25% of the Company’s market capitalization.‎

“Bryan Wilson”
President & CEO
[email protected]
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