CALGARY, ALBERTA--(Marketwired - April 6, 2017) - Tanager Energy Inc. ("Tanager" or the "Corporation") (TSX VENTURE:TAN) announced today that, subject to regulatory approval, it has granted a total of 2,000,000 options to purchase common shares of Tanager to directors and officers of Tanager, with an exercise price of $0.15 and an expiry date of April 6, 2022. These options vest, as to 50%, on the date of grant, and as to 25%, on each of the first and second anniversaries of the date of grant (such that the options are fully vested two years from the date of grant). Tanager has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these options (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Tanager Energy Inc. is an oil and natural gas and mineral exploration company headquartered in Calgary, Alberta, with executive offices in Houston, Texas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TAN."
Tanager Energy Inc.
Tom M. Crain, Jr.
Interim Chairman of the Board and Chief Executive Officer