CALGARY, April 20, 2012 /CNW/ - PetroNova Inc. ("PetroNova" or the "Company") (TSX-V: PNA) announces that it has granted stock options to purchase 5,370,000 common shares of the Company to certain of its officers, directors and employees. The stock options have an exercise price of $0.56 per common share and expire five years from the date of grant. One-half of the options granted will vest one year from the date of grant and the remaining options will vest two years from the date of grant.
The Company, through its subsidiaries, is engaged in the exploration for, and the acquisition and development of, oil and natural gas resources in South America, specifically in Colombia. The Company's assets currently include the Company's interests in the PUT-2 and Tinigua Blocks located in the Caguan-Putumayo Basin in Colombia, both of which are operated by the Company, and the non-operated CPO-06, CPO-07 and CPO-13 Blocks located in the Llanos Basin in Colombia. The common shares of the Company trade on the TSX Venture Exchange under the stock symbol "PNA".
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.
For further information:
President & Chief Executive Officer
954 317 3990
Stelvio Di Cecco
Chief Financial Officer
954 317 3990