Greenfields Petroleum Corporation Announces Issuance of Options
HOUSTON, TEXAS--(Marketwired - July 7, 2015) -
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Greenfields Petroleum Corporation ("Greenfields" or the "Company") (TSX VENTURE:GNF)(TSX VENTURE:GNF.DB) announces that it has granted options to acquire 400,000 common shares of Greenfields ("Common Shares") pursuant to its stock option plan, 380,000 of which were granted to directors and officers of Greenfields. Each grant of options is for a 15 month term, expiring on October 6, 2016.
The options shall vest immediately upon granting to all outside directors. For the remaining executive director, officers, and employees, options will vest 1/2 upon date of grant and 1/2 at the end of nine (9) months following the date of grant. The options are exercisable at a Canadian dollar price of $0.35 per Common Share, which was the closing price on the TSX Venture Exchange on July 6, 2015. There are now options outstanding to purchase a total of 2,096,250 Common Shares.
About Greenfields Petroleum Corporation
Greenfields is a junior oil and natural gas corporation focused on the development and production of proven oil and gas reserves principally in the Republic of Azerbaijan. The Company plans to expand its oil and gas assets through further farm-ins and acquisitions of Production Sharing Agreements from foreign governments containing previously discovered but under-developed international oil and gas fields, also known as "greenfields". More information about the Company may be obtained on the Greenfields website at www.greenfields-petroleum.com.
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.