TORONTO, CANADA-(Marketwired - July 22, 2015) - PetroMaroc Corporation plc (TSX VENTURE:PMA) (the “Company” or “PetroMaroc“) announces today (the “Grant Date“) that the Board of Directors has issued an aggregate of 5,080,000 stock options to members of management and directors of the Company at an exercise price of C$0.05 each. The options will vest immediately.
Under the terms of the Company’s stock option plan, the number of shares reserved for issuance will not exceed 10 percent of the issued and outstanding shares of PetroMaroc. The options issued today represent approximately 9.99 percent of the undiluted share capital of PetroMaroc. The options will be exercisable for a period of up to five years from the Grant Date.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About PetroMaroc
PetroMaroc is an independent oil and gas company focused on its significant land position in Morocco. The Company has a 50 percent operated interest in the Sidi Moktar licence area covering 2,683 square kilometres and is working closely with Morocco’s National Office of Hydrocarbons and Mines (ONHYM) as a committed long-term partner to unlock the hydrocarbon potential of the region. Morocco offers a politically stable environment to work within and has favourable fiscal terms to energy producers. PetroMaroc is a public company listed on the TSX Venture Exchange under the symbol “PMA”.
Additional information about the Company can be found at www.petromaroc.co and under the Company’s SEDAR profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information:
PetroMaroc Corporation plc
Martin Arch
Chief Financial Officer and Secretary
+44 (0) 20 3137 7756
Neil Hamzaoui
VP Commercial Development
+44 (0) 20 3137 7756