CALGARY, Jan. 9, 2012 /CNW/ - Shona Energy Company, Inc. (TSXV: SHO)
("Shona" or "the Company"), an international oil and natural gas
exploration, development and production company focusing on South
America, today announced that it has granted a total of 500,000 stock
options to certain newly hired officers and employees of the Company.
Each stock option entitles the holder thereof to acquire 1 common share
of the Corporation at an exercise price of $0.61 per share, subject to
regulatory approval. The options were issued pursuant to the Company's
stock option plan and expire on January 9, 2022. The options vest in
halves, with one half vesting upon issuance and the other half vesting
on the first anniversary of issuance.
Shona is an international oil and natural gas exploration, development
and production company focusing on South America, specifically Colombia
and Peru. The Company's assets currently include interests in the
Company-operated Esperanza block located in Colombia's Lower Magdalena
Basin, the non-operated Serrania, Los Picachos and Macaya Blocks in
Colombia's Caguan Basin, and the non-operated Block 102 in Peru's
Maranon Basin. The common shares of the Company trade on the TSX
Venture Exchange under the stock symbol "SHO". More information on the
Company is available at www.shonaenergy.com.
The securities of Shona have not been and will not be registered under
the United States Securities Act of 1933, as amended and may not be
offered or sold in the United States absent registration or an
applicable exemption from the registration requirement. This press
release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be
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 press
SOURCE Shona Energy Company, Inc.
For further information:
For further information please contact either of the following individuals:
| Ricardo Mendieta |
Vice President of Colombia
Shona Energy (Colombia) Limited
Geoproduction Oil and Gas Company of Colombia
| Shetal Mentlewski |
Vice President of Administration and Legal
Shona Energy Company, Inc.