Leucrotta Announces Grant of Incentive Stock Options
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES OF AMERICA.
CALGARY, Alberta, Sept. 15, 2017 (GLOBE NEWSWIRE) -- Leucrotta Exploration Inc. (the "Corporation") (TSXV:LXE) announces that its board of directors has approved the granting of incentive stock options ("Options") under its stock option plan to certain of its directors and officers to acquire up to an aggregate of 1,920,000 common shares ("Common Shares") of the Corporation and the granting of Options to certain of its employees and consultants to acquire up to an aggregate of 706,000 Common Shares.
All of the Options are exercisable for a period of five years at a price of $1.78 per Common Share and 33⅓% of the Options will vest on the date that is one year after the date of the grant of such Options and the remainder will vest 33⅓% per year thereafter.
Following the grant of the Options, Leucrotta will have a total of 11,487,650 Options outstanding. Leucrotta's share based incentive plans limit the total number of Common Shares underlying the outstanding stock options and performance warrants to no more than 10% of the issued and outstanding Common Shares. As of the date of this press release, the total number of Common Shares underlying the outstanding stock options and performance warrants represents about 9.5% of the issued and outstanding Common Shares.
For additional information, please contact:
Mr. Robert J. Zakresky
President and Chief Executive Officer
Mr. Nolan Chicoine
Vice President, Finance and Chief Financial Officer
Leucrotta Exploration Inc.
Suite 700, 639 – 5th Avenue SW
Calgary, Alberta T2P 0M9
Phone: (403) 705-4545
Fax: (403) 705-4526
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.