Falcon Oil & Gas Ltd. Falcon Oil & Gas Ltd. Announces The Granting Of Stock Options

 
TIDMFOG 
 
 
   23 February 2017 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG, ESM: FAC) 
("Falcon" or the "Company") announces that on 22 February 2017 it 
granted incentive stock options ("Options") to purchase an aggregate of 
6,000,000 common shares of Falcon to Anne Flynn, Chief Financial Officer 
of Falcon under the stock option plan approved at Falcon's annual 
shareholders meeting held on 21 June 2016. The Option grant is subject 
to regulatory approval by the TSX Venture Exchange. 
 
   A maximum of 10% of the issued and outstanding shares of Falcon are 
reserved for issuance pursuant to Falcon's stock option plan. 
 
   The Options were granted at an exercise price of CDN$0.20 being the 
closing share price on the TSX Venture Exchange on 22 February 2017 to 
the following: 
 
 
 
 
                Number of      Total number of Options 
Name          Options granted      held after grant 
Anne Flynn          6,000,000                7,000,000 
 
 
   The Options granted have a vesting schedule allowing for 1/3 of the 
Options to vest immediately with an additional 1/3 vesting on each 
subsequent anniversary until the Options are fully vested on 22 February 
2019. The Options have an expiry date of 21 February 2022. 
 
   After this grant, there are 45,100,000 Options outstanding, representing 
4.86% of the issued and outstanding common shares of Falcon. 
 
   For further information, please contact: 
 
 
 
 
CONTACT DETAILS: 
 
Falcon Oil & Gas Ltd.           [phone] 
Philip O'Quigley, CEO          [phone] 
 
Davy (NOMAD & Broker) 
John Frain / Anthony Farrell    [phone] 
 
   About Falcon Oil & Gas Ltd. 
 
   Falcon Oil & Gas Ltd is an international oil & gas company engaged in 
the acquisition, exploration and development of conventional and 
unconventional oil and gas assets, with the current portfolio focused in 
Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is 
incorporated in British Columbia, Canada and headquartered in Dublin, 
Ireland with a technical team based in Budapest, Hungary. 
 
   For further information on Falcon Oil & Gas Ltd. please visit 
www.falconoilandgas.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. 
 
   Certain information in this press release may constitute forward-looking 
information. This information is based on current expectations that are 
subject to significant risks and uncertainties that are difficult to 
predict. Actual results might differ materially from results suggested 
in any forward-looking statements. Falcon assumes no obligation to 
update the forward-looking statements, or to update the reasons why 
actual results could differ from those reflected in the forward 
looking-statements unless and until required by securities laws 
applicable to Falcon. Additional information identifying risks and 
uncertainties is contained in Falcon's filings with the Canadian 
securities regulators, which filings are available at www.sedar.com. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Falcon Oil & Gas Ltd. via Globenewswire 
 
 
  http://www.falconoilandgas.com/ 
 

(END) Dow Jones Newswires

February 23, 2017 02:01 ET (07:01 GMT)

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