/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
CALGARY, Aug. 24, 2012 /CNW/ - Raise Production Inc. (TSX-V: RPC) ("Raise" or the "Company") announces that it has granted 2,690,000 stock options to purchase common shares of the Company. The stock options have been granted to employees and officers of the Company and the options have an exercise price of $0.18/share. Each option granted and any common shares issued under exercise of the options will be subject to a four month hold period. The stock options are granted under the Company's stock option plan and will have a 5 year term. The stock option will be subject to certain vesting provisions.
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its efforts on the production service sector, the production services segment utilizes its patented products to enhance and increase ultimate production in both conventional and unconventional gas, oil, and CBM wells. The Company was founded in 1994 and is listed on the TSX Venture Exchange.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
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 news release.
This news release may contain forward-looking statements, including statements regarding the Private Placement and the use of proceeds from the Private Placement and other statements that are not historical facts. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.
SOURCE: Raise Production Inc.
For further information:
Eric Laing, President and Chief Executive Officer
Raise Production Inc.
Suite 1810, 715 - 5th Ave S.W.
Calgary, Alberta T2P 2X6
Tel: (403) 699-7675
E-mail: [email protected]
Web site at: www.raiseproduction.com