CALGARY, Feb. 10, 2012 /CNW/ - Birch Lake Energy Inc. ("Birch Lake" or the "Corporation) (TSXV: BLK) announced today that, subject to regulatory approval, it
has granted a total of 1,450,000 options to purchase common shares of
Birch Lake to the directors, officers, consultants and employees of
Birch Lake, in accordance with the Corporation's stock option plan.
These options expire five years from the date of grant and have an
exercise price of $0.16 per share. Out of these options, 450,000
options were granted to a directors and officer of the Corporation.
Birch Lake has determined that exemptions from the various requirements
of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61-101 are available for the issuance of the options to the directors
and officers of the Corporation (Formal Valuation - Issuer Not Listed
on Specified Markets; Minority Approval - Fair Market Value Not More
Than 25% of Market Capitalization).
About Birch Lake Energy Inc.
Birch Lake is a junior oil and gas company engaged in the exploration
for and the acquisition, development and production of oil and natural
gas reserves. The Corporation's common shares are listed to trade on
the TSX Venture Exchange under the symbol "BLK".
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.
SOURCE Birch Lake Capital Inc.
For further information:
William H. Petrie
President and Chief Executive Officer