CALGARY, Dec. 22, 2015 /CNW/ - LGX Oil + Gas Inc. ("LGX" or the "Company") (TSXV:OIL) announces that it has granted a total of 4,300,000 stock options to directors, officers, employees and consultants of the Company pursuant to the Company's stock option plan. The options are exercisable at a price of $0.025 per share. The options have a five-year term and vest as to one third each year following the date of grant. Following this grant LGX has 7,902,500 stock options outstanding.
LGX is a uniquely positioned, technically driven, junior oil and natural gas company with a proven management team committed to aggressive, cost-effective growth of light oil reserves and production combined with high impact exploration potential in southern Alberta. LGX's common shares trade on the TSX Venture Exchange under the symbol OIL.
SOURCE LGX Oil + Gas Inc.
For further information: Trent J. Yanko, P.Eng., President + CEO; Curt Ziemer, CGA, Vice-President, Finance + CFO, LGX Oil + Gas Inc., 4210 Eighth Avenue Place, 525 - 8th Avenue SW, Calgary, AB T2P 1G1, 403.441.2345