Canacol Energy Ltd
SymbolCNE
Shares Issued325,277,584
Close 2009-11-06C$ 0.35
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Canacol Energy grants options to buy 6.7 million shares

2009-11-06 19:06 ET - Options Proposed

Mr. Brian Hearst reports

CANACOL ENERGY LTD. ANNOUNCES GRANT OF OPTIONS

Canacol Energy Ltd. has granted 6.7 million stock options to eligible participants. A total of 4.75 million of these stock options was granted to directors and officers of the corporation. The options were granted at an exercise price of 35 cents per common share, the Nov. 6, 2009, closing price. The options will expire five years from the date of grant. As at this date, after giving effect to the new options issuance, Canacol has options outstanding representing 5.9 per cent of the corporation's total issued and outstanding common shares.

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