CALGARY, Jan. 14, 2015 /CNW/ - Petroamerica Oil Corp. (TSX-V:PTA) ("Petroamerica" or the "Company"), Colombia is pleased to announce the issuance of stock options ("Options") pursuant to the Company's stock option plan (the "Plan").
Effective January 13, 2015 a total of 9,300,000 Options have been granted to certain directors, officers and employees of the Company with a strike price of $0.145, which was the closing market price for Petroamerica common shares on that day. This grant is subject to regulatory approval. These Options were issued pursuant to the Plan and vest in thirds, with one third vesting on each of the first, second and third anniversaries of issuance, and expire on January 13, 2025. This grant is intended to assist in retaining and engaging the directors, officers and employees of the Company and to provide additional incentive to these people for their efforts on behalf of the Company.
Petroamerica Oil Corp. is a Canadian oil and gas exploration and production company with activities in Colombia. Petroamerica's shares are listed on the TSX Venture Exchange under the symbol "PTA". A summary of the Company property holdings has been included in the current presentation located at www.PetroamericaOilCorp.com.
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 Petroamerica Oil Corp.
For further information: Colin Wagner, CFO, Tel Bogota, Colombia: +57-1-744-0644, Tel Calgary, Canada: +1-403-237-8300, Email: [email protected]; Web Page: www.PetroamericaOilCorp.com