TORONTO, Jan. 17, 2020 /CNW/ - CGX Energy Inc. ("CGX
Energy" or the "Company"), announces the granting of
incentive stock options to purchase 1,510,000 common shares of the
Company (the "Options"), subject to regulatory
approval. The Options were granted on January 17, 2020
pursuant to the Company's stock option plan and are exercisable at
a price of $0.71 per share, and are
set to expire on January 17,
2025. The Options vest as follows: (a) one-third of the
Options vest immediately; (b) one-third of the Options vest on the
six month anniversary of when the Options were granted; and (c) and
the remaining one-third of the Options vest on the first
anniversary of when the Options were granted, subject to a vesting
acceleration clause under certain events.
About CGX Energy
CGX Energy is a Canadian-based oil and gas exploration company
focused on the exploration of oil in the Guyana-Suriname Basin.
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
Forward-Looking Statements:
This news release contains forward-looking statements.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
anticipate", "estimate", "may", "will", "would", "potential",
"proposed" and other similar words, or statements that certain
events or conditions "may" or "will" occur in the future.
These forward-looking statements are based on certain key
expectations and assumptions made by CGX Energy. CGX Energy
believes the expectations and assumptions on which it develops
forward-looking statements are reasonable; however, undue reliance
should not be placed on forward-looking statements as there can be
no assurance they will prove to be correct. Since
forward-looking statements address future events and conditions, by
their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and
risks. In addition, other risks that may affect the
forward-looking statements in this news release are outlined
further in the Company's most recent Annual Information Form on
SEDAR at www.sedar.com.
The forward-looking statements contained in this news release
are made as of the date hereof and CGX Energy undertakes no
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
SOURCE CGX Energy Inc.
