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CALGARY, Feb. 9 /CNW/ - Novus Energy Inc. (TSX Venture Exchange: "NVS") ("Novus" or the "Company") announces that it has granted a total of 4,100,000 options to certain directors, officers and employees of the Company, including an aggregate of 2,875,000 options that were granted to insiders of the Company. Novus has undergone a rapid expansion, and has recently hired key personnel in its engineering, geological, land, operations, and accounting departments. These incentive stock options are a key component in Novus' overall compensation package, and are utilized to attract and retain top performing individuals within each key discipline.
Each option entitles the holder the right to acquire one common share of the Company at an exercise price of $0.88 per share and will expire five years from the date of issue. One quarter of the options vest every six months, with the first tranche vesting six months from the date of grant.
Novus would like to announce that effective February 15, 2010 it will be relocating. To properly accommodate its recently expanded team, Novus will be moving its office to 1200, 520 - 5 Avenue S.W., Calgary, AB, T2P 3R7.
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 Novus Energy Inc.
For further information: For further information: Hugh G. Ross, President and CEO, Telephone: (403) 263-4310, Fax: (403) 263-4368; Ketan Panchmatia, VP Finance and CFO, Telephone: (403) 263-4310, Fax: (403) 263-4368