/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA/
CALGARY, March 7 /CNW/ - Fairmount Energy Inc. ("Fairmount" or the
"Company") (TSX-V - FMT) announced today that the Board of Directors has
granted 360,000 stock options in accordance with the Company's stock option
plan. The stock options are exercisable at $0.70 per share, expire in five
years and vest as to 50% on each of the next two anniversaries of the date of
granting. Employees were granted an aggregate of 30,000 options and directors
and officers were granted an aggregate of 330,000 options. Including this
grant of options, the Company has a total of 1,724,138 options outstanding.
Subject to receipt of required regulatory approval, the Board of
Directors has also amended the terms of 60,000 previously granted employee
stock options. The amended stock options are exercisable at $0.70 per share,
expire on the expiry date specified in the original grant of options and vest
as to 50% on each of the next two anniversaries of the date of amendment. The
previous exercise price for these options was $1.50.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Not for distribution to United States news wire services or for
dissemination in the United States of America.
For further information:
For further information: Joseph S. Durante, President and CEO,
JDurante@Fairmountenergy.com, Phone: (403) 355-0440; or Ryan A. Michaluk, VP
Finance and CFO, RMichaluk@Fairmountenergy.com, Phone: (403) 355-0440;
Fairmount Energy Inc., 2200, 520 - 5th Avenue SW, Calgary, Alberta, T2P 3R7,
Visit us at our website www.fairmountenergy.com