Mr. Edwin Tam reports
PETROX ANNOUNCES GRANTING OF OPTIONS
Petrox Resources Corp.'s board of directors has approved the grant of incentive stock options to certain officers, directors and consultants of the company pursuant to its stock option plan.
An aggregate of 875,000 stock options have been granted, with each option entitling the holder to acquire one common share of the company at an exercise price of 15.5 cents per share. The options are exercisable for a period of two years from the date of grant, vest immediately upon grant, and are subject to the terms of the company's stock option plan and applicable regulatory approvals.
About Petrox Resources Corp.
Petrox is a publicly traded Canadian junior oil and gas company engaged in the exploration and development of oil and natural gas resources in the Western Canadian basin. Petrox currently has a production property in Fletwode, Sask., that produces approximately 15 barrels per day.
The common shares of Petrox are listed and posted for trading on the TSX Venture Exchange under the trading symbol PTC.
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