CALGARY, June 25 /CNW/ - Tuscany Energy Ltd. announced today that its
Board of Directors has approved the issuance of stock options, effective June
25, 2009, to purchase 1,250,000 common shares of the Corporation at a price of
$0.10 per share, (the closing price of the Company's shares on the TSX-Venture
Exchange on June 24, 2009 was $0.085 per share), exercisable until June 25,
The options are being issued to Directors of the Corporation in
accordance with Tuscany's Share Option Plan approved by Shareholders on June
The total number of options outstanding after the issuance is 1,420,000,
or 4.08% of the issued and outstanding common shares of the Corporation.
Tuscany is an oil and gas exploration and production company based in
Calgary, Alberta, with projects in Saskatchewan and Alberta.
Forward-looking statements - statements included in this press release
that are not historical facts may be considered "forward-looking statements."
Actual results could differ materially from the conclusions, forecasts or
projections in the forward-looking information. Certain material factors and
assumptions were applied in drawing the conclusions or making the forecasts or
projection in the forward-looking information and the material factors or
assumptions that were applied in drawing the conclusion or making the forecast
or projection as reflected in the forward-looking information is contained in
the press release.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: John G.F. McLeod, President, Tuscany Energy
Ltd., Telephone: (403) 264-2398, Fax: (403) 261-1941; Robert W. Lamond,
Chairman, Tuscany Energy Ltd., Telephone: (403) 269-9889, Fax: (403) 269-9890;