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
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.
SOURCE: Northern Frontier Corp.
For further information:
For further information on Northern Frontier Corp., please contact:
Northern Frontier Corp.
Chris Yellowega - President and Chief Executive Officer
- or -
Monty Balderston - Executive Vice President and Chief Financial Officer