Northern Frontier Corp. Announces Grant of Stock Options
CALGARY, Oct. 4, 2013 /CNW/ - Northern Frontier Corp. (TSX-V: FFF) (the "Corporation") is pleased to announce that its board of directors has granted options to acquire up to an aggregate of 498,000 common shares of the Corporation (the "Shares") to its senior officers and directors, at an exercise price of $3.50 per Share (being the closing trading price of the Shares on the TSX Venture Exchange (the "TSXV") on October 3, 2013). Eight of the nine non-management directors of the Corporation were awarded options entitling them to acquire up to an aggregate of 330,500 Shares and the two senior officers of the Corporation received options entitling them to purchase up to an aggregate of 167,500 Shares. All options were granted under the Corporation's share option plan, have a five-year term and vest (as to one third of the number of Shares that may be purchased) on the first, second and third anniversaries of the date of grant.
The Corporation provides sustaining capital services to large industrial energy customers in the steam assisted gravity drainage region of northeastern Alberta. Specifically, the Corporation provides civil services related to the construction and maintenance of roads, production pads, piping corridors, facility earthworks and infrastructure. The outstanding common shares of the Corporation are listed and posted for trading on the TSXV under the trading symbol "FFF".
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Northern Frontier Corp.
Chris Yellowega - President and Chief Executive Officer
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Monty Balderston - Executive Vice President and Chief Financial Officer