Falcon Oil & Gas Ltd. announces that on 6 June 2022 it granted incentive stock options (“Options”) to purchase an aggregate of 16,250,000 common shares of Falcon to directors and officers under the stock option plan approved at Falcon’s annual shareholders meeting held on 12 November 2021.
The Options were granted at an exercise price of GBP£0.15 (equivalent to CDN$0.24), with further details set out below:
All of 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 6 June 2024. The Options have an expiry date of 5 June 2027.
Following this grant, and the expiry of certain options in February 2022, there are 57,250,000 Options outstanding, representing 5.48% of the issued and outstanding common shares of Falcon.
