CALGARY, Jan. 4 /CNW/ - IROC Energy Services Corp. ("IROC" or the "Company") (TSX Venture Exchange: "ISC") announced that, in accordance with the Company's long term compensation policy, it has granted stock options to purchase a total of 175,000 common shares and 252,100 restricted share units to certain directors and officers of the Company. The stock options are exercisable, once vested, at $1.20 per share for a period of five years, with one third of the options vesting on each of the first, second and third anniversaries of the date of grant. The restricted share units may be redeemed, once vested, into common shares until the end of the third calendar year subsequent to the year in which the units were issued. The restricted share units also vest in thirds on the first, second and third anniversaries of the date the units were issued. The stock options were granted in accordance with the Company's Stock Option Plan and the restricted share units were granted in accordance with the Company' Restricted Share Unit Bonus Plan.
Publicly reported information for IROC Energy Services Corp. is available at www.sedar.com.
About IROC Energy Services Corp.
IROC Energy Services Corp. is an Alberta oilfield services company that, through the IROC Energy Services Partnership, provides a diverse range of products, services and equipment to the oil and gas industry that are among the newest and most innovative in the WCSB and international markets. IROC combines cutting-edge technology with depth of experience to deliver a product and services offering in three core areas: Well Servicing & Equipment, Downhole Temperature & Pressure Monitoring Tools, and Rental Services. For more information on IROC Energy Services Corp. visit our website at www.iroccorp.com.
This press release is not for dissemination in United States or to any United States news services. The Common Shares of IROC have not and will not be registered on the United States Securities Act of 1933, as amended (the "United States Securities Act") or any state securities laws and are not offered or sold in the United States or to any US person except in certain transactions exempt from the registration requirements of the United States Securities Act and applicable state securities laws.
Neither 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 IROC Energy Services Corp.
For further information: IROC Energy Services Corp., Mr. Thomas M. Alford, President and CEO, Telephone: (403) 263-1110, email: firstname.lastname@example.org