/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO US NEWS WIRE SERVICES/
CALGARY, July 20 /CNW/ - Terrex Energy Inc. (TSX-V - TER) ("Terrex") announces that its board of directors today granted options to directors and employees of Terrex in accordance with its stock option plan to purchase 625,000 common shares of Terrex, subject to regulatory approval, exercisable for a period of five years, at an exercise price of $0.195 per share.
Terrex Energy Inc. is a Calgary, Alberta based company engaged in the exploration for, and development and production of petroleum and natural gas in the Western Canadian Sedimentary Basin. The Company is primarily focused on a strategy of growing reserves and production through applying proven, improved and enhanced oil recovery technologies to existing under exploited, large original oil in-place medium and light oil reservoirs. Terrex shares are listed and trade on the TSX Venture Exchange under the trading symbol "TER".
Neither the TSV Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as "forward-looking statements") within the meaning of Canadian securities laws. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur.
There can be no assurance that the plans, intentions or expectations upon which forward looking statements are based will in fact be realized. Actual results will differ, and the difference may be material and adverse to Terrex and its shareholders. Forward-looking statements are based on Terrex's current beliefs as well as assumptions made by, and information currently available to, Terrex concerning business prospects, strategies, and market conditions. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties (both general and specific) and risks that forward-looking statements will not be achieved. These factors may be found under the heading "Risk Factors" in the Terra Venture Inc.'s management information circular dated May 5, 2010 in respect of the shareholders meeting to be held on June 4, 2010, a copy of which is available at www.sedar.com. Readers are cautioned that this list of factors that may affect future results is not exhaustive.
The forward-looking statements contained in this press release are made as of the date hereof and Terrex does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
SOURCE Terrex Energy Inc.
For further information: For further information: For further particulars about Terrex, please contact Kim Davies, President & CEO or Norm Knecht, VP Finance & CFO at (403) 264-4430 or visit Terrex's website at terrexenergy.ca