Attention Business Editors: Petromin Resources announces granting of stock options
Monday, 19 April 2010 TSX.V Symbol: PTR
Petromin Resources Ltd. (the “Company” or “Petromin”) is pleased to announce grants of 50,000 stock options to its Chief Financial Officer, Julie Xu.
Each option shall be exercisable for one Petromin common share. The exercise price for the options shall be $0.13 per common share, and one third of the options shall vest on August 19, 2010, another third shall vest on December 19, 2010, and the final third shall vest on April 19, 2011. The options shall expire on April 19, 2015.
The options are issued under the terms of the Petromin stock option plan (the “Plan”). The Plan was adopted by shareholders on March 19, 2003 and amended on March 21, 2004. As of today’s date, there are 4,266,177 options outstanding under the Plan. The maximum number of shares that may be reserved for issuance under the Plan is ten per cent of the issued and outstanding shares of the Company. As of April 19, 2010, Petromin has 58,294,374 share issued and outstanding shares.
Petromin Resources Ltd. is a progressive international petroleum and natural gas exploration and production company listed Tier 1 on the TSX Venture Exchange.
For further information: Visit www.petromin.ca, or contact Mike Suk at (604) 682-8831.
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.