Falcon Oil & Gas Announces Granting of Stock Options

Source: www.gulfoilandgas.com 11/30/2022, Location: Not categorized

Falcon Oil & Gas Ltd. announces that on 29 November 2022 it granted incentive stock options (“Options”) to Tom Layman (Non-Executive Director) to purchase 2,500,000 common shares of Falcon at an exercise price of GBP£0.15 (equivalent to CDN$0.24) under the stock option plan approved at Falcon’s annual shareholders meeting held on 14 July 2022.

The Options 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 29 November 2024. The Options have an expiry date of 28 November 2027.

Following this grant there are 59,750,000 Options outstanding, representing 5.72% of the issued and outstanding common shares of Falcon.


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