CALGARY,
Oct. 24, 2013 /CNW/ - Emerald Bay
Energy Inc. (TSX Venture: EBY)
(the "Corporation") announced today that it has granted
incentive stock options for a total of 6,700,000 common shares of
the Corporation at a price of $0.05
per share for a period of five years, under the formal stock option
plan approved at the Annual General Meeting held on December 12, 2012, subject to regulatory
approval, to a directors, officers, and consultants (including
500,000 stock options to the Corporation's investor relations firm,
Cavalcanti Hume Funfer Inc. ("CHF"), such options issued to CHF
vesting in stages over a 12 month period with ΒΌ of the options
vesting every 3 months) of the Corporation. A maximum of 10%
of the issued shares are reserved for issuance for the
Corporation's Stock Option Policy. The options are subject to a
four month hold period.
ABOUT EMERALD
BAY
Emerald Bay Energy Inc., based in Calgary, is a junior oil and gas producer with
production properties in Western
Canada and South
Texas. The common shares of Emerald Bay trade on the
TSX Venture Exchange under the symbol "EBY". Please visit our
website at www.emeraldbayenergy.com.
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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 release.
SOURCE Emerald Bay Energy Inc.