Novus Energy Inc. Announces Appointment of Chairman and Grants Incentive Stock Options
April 17 2012 - 4:28AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION
IN THE U.S./ CALGARY, April 20, 2012 /CNW/ - Novus Energy Inc.
("Novus" or the "Company") is pleased to announce that Mr. Michael
Halvorson has been appointed as the non-executive Chairman of the
board of directors of Novus (the "Board of Directors"). Mr.
Halvorson, an independent director, was originally appointed to the
Board of Directors concurrently with the reorganization of the
Company on March 31, 2009. The Company also announces that it has
granted a total of 1,850,000 options to directors and officers of
the Company. These incentive stock options are a key
component in Novus' overall compensation package, and are utilized
to attract and retain top performing individuals within each key
discipline. Each option entitles the holder the right to acquire
one common share of the Company at an exercise price of $0.92 per
share and will expire five years from the date of issue. One
quarter of the options vest every six months, with the first
tranche vesting six months from the date of grant. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. Novus
Energy Inc. CONTACT: Hugh G. RossPresident and CEOTelephone:
403.263.4310Fax: 403.263.4368Ketan PanchmatiaVP Finance and
CFOTelephone: 403.263.4310Fax: 403.263.4368
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