CALGARY, Alberta, Feb. 08, 2018 (GLOBE NEWSWIRE) — Pan Orient Energy Corp. (“Pan Orient”) (TSXV:POE) announced today that it granted options to directors, officers and employees to purchase an aggregate of 1,560,000 common shares under Pan Orient’s stock option plan. Each option has an exercise price of $1.09 (being the February 7, 2018 closing price of the shares on the TSX Venture Exchange), vests as to one-third on the grant date and one-third on each of the first and second anniversaries of the grant date and expires on February 7, 2023. Options to purchase 4,991,000 common shares are now outstanding, equal to 9.1% of Pan Orient’s 54,990,407 outstanding common shares, at exercise prices ranging from $0.89 to $1.52.
Pan Orient is a Calgary, Alberta based oil and gas exploration and production company with operations currently located onshore Thailand, Indonesia and in Western Canada.
This press release contains forward-looking information. Forward-looking information is generally identifiable by the terminology used, such as “expect”, “believe”, “estimate”, “should”, “anticipate” and “potential” or other similar wording. Forward-looking information in this press release includes references, express or implied, to the exercise, expiry or cancellation of options and timing thereof. By its very nature, the forward-looking information contained in this press release requires Pan Orient and its management to make assumptions that may not materialize or that may not be accurate. In addition, the forward-looking information is subject to known and unknown risks and uncertainties and other factors, some of which are beyond the control of Pan Orient, which could cause actual results, expectations, achievements or performance to differ materially. Although Pan Orient believes that the expectations reflected in its forward-looking information are reasonable, it can give no assurances that those expectations will prove to be correct. Pan Orient undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither 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.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Pan Orient Energy Corp.
Jeff Chisholm, President and CEO (located in Bangkok, Thailand)
– or –
Bill Ostlund, Vice President Finance and CFO
Telephone: (403) 294-1770
ResourceNews.com, The Place for Latest Resource Industry News