Arrow Exploration Corp. Confirms Issuance of Stock Options

Source Press Release
Company Arrow Exploration Corp. 
Tags Strategy - Corporate
Date December 03, 2019

ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) announces the issuance last evening of a total of 150,000 stock options (“Options”), pursuant to the Company’s Stock Option Plan (the “Plan”) to a Director, previously appointed as announced on August 1, 2019, subject to regulatory approval. The Company has been in a share trading blackout since that time, which was lifted post market close on December 2, 2019. The Plan is intended to assist in attracting, retaining, engaging and rewarding directors, officers, employees and consultants of the Company, provide additional incentive to these people for their efforts on behalf of the Company, and to align with the enhancement of shareholder value. Under the Plan, the Company is able to issue Options to a maximum of 10% of the number of issued and outstanding common shares in the Company from time to time.

The 150,000 Options granted on December 2, 2019 have a strike price of CAD$0.25, the closing market price of the Company’s common shares trading on the TSX Venture Exchange on December 2, 2019. The grant of Options is subject to regulatory approval. The Options were issued pursuant to the Plan, vest in thirds, with one third vesting upon each of the first, second and third anniversaries of issuance, and expire on December 2, 2029.

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