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CALGARY, Oct. 31, 2012 /CNW/ - Raise Production Inc. (TSX-V: RPC;) ("Raise" or the "Company") announces an increase in the exercise price for 2,690,000 stock options granted to certain directors, officers and employees of the Company. The Company previously announced on August 24, 2012 that it had granted the options under the terms of the Company's stock option plan with an exercise price of $0.18 per share (based on a discount from the closing price of $0.24 at the end of trading on August 23, 2012). The exercise price was intended to be at the prior day's closing price and accordingly the Company has increased the exercise price for these issued options to $0.24 per share.
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.
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.
SOURCE: Raise Production Inc.
For further information:
Eric Laing, President and Chief Executive Officer
Raise Production Inc.
2620 58th Ave S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com