Lonestar Announces Option Grants
April 01 2009 - 2:35PM
Marketwired
Lonestar West Inc. (TSX VENTURE: LSI) ("Lonestar" or "the Company")
announced that it has granted 325,000 incentive stock options to
members of management of the Company (the "Management Options") and
an aggregate of 175,000 incentive stock options to two (2)
independent directors of the Company under its Stock Option Plan
(collectively, the "Director Options"). All Management Options and
Director Options are exercisable at $0.50 per common share.
In addition, the Company also announced that it has granted
100,000 incentive stock options to certain employees and
consultants of the Company (the "Employee/Consultant Options"). The
Employee/Consultant Options are exercisable at $0.50 per common
share.
The Management Options, Director Options and Employee/Consultant
Options all expire on April 1, 2014.
All options granted and any common shares issued upon their due
exercise will be subject to a statutory four-month and one-day hold
expiring August 2, 2009. The granting of the options are subject to
regulatory acceptance of applicable filings.
About Lonestar West
The Company is an Alberta based company providing industrial
vacuum services. The Company currently operates a fleet of six
vacuum trucks and two hydro-vac trucks. The Company's plan is to
increase its fleet of hydro-vac trucks over the next 12 months. The
Company's customers are primarily engaged in oil and natural gas
exploration and development and mid-stream infrastructure
construction and maintenance.
For more information please visit the Lonestar West website at
www.lonestarwest.com.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Lonestar West Inc. James Horvath President & CEO
403-887-2074 infor@lonestarwest.com