CALGARY, Feb. 10, 2012 /CNW/ - Northern Spirit Resources Inc. ("Northern Spirit" or the "Company") (TSXV: NS) announces that it has issued 16,100,000 stock options in accordance with the Company's shareholder approved stock option plan. The stock options are exercisable at $0.10 per share, expire in five years and vest as to one-third immediately and one-third on each of the second and third anniversaries of the date of granting. Senior officers, employees and consultants were granted a total of 13,100,000 options and directors were granted a total of 3,000,000 options.
Northern Spirit is a Calgary based junior oil and natural gas company with operations focusing in the Cadogan, Klein, Sounding Lake and Veteran areas of Alberta and the Hoosier area of Saskatchewan. The common shares of Northern Spirit are listed on the TSX Venture Exchange under the symbol "NS".
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
For further information:
Northern Spirit Resources Inc.
850, 396 - 11th Avenue SW
Calgary, Alberta T2R 0C5
Fax: (403) 269-1715
Kevin R. Baker Q.C., President & Chief Executive Officer
Dir: (403) 476-7010
John H. Cassels, Vice President Finance, Chief Financial Officer and Secretary
Dir: (403) 476-7008