CALGARY,
AB, May 17, 2023 /CNW/ - Stampede Drilling
Inc. ("Stampede" or the "Company") (TSXV: SDI) announces that it
has granted an aggregate of 1,970,000 stock options ("Options") to
purchase common shares of the Company ("Common Shares") to
officers, employees and the newly elected directors of the
Company.
The Options were granted on May 16,
2023 and have a term of five years from the date of grant,
with one quarter of the Options vesting on the day of the grant and
one quarter subsequently vesting on each of the first, second and
third anniversaries of the date of the grant. The Options may be
exercised at a price of $0.32 per
Common Share.
Stampede has chosen to issue the Options at an exercise price of
$0.32 per Common Share (which is
equal to the price per Common Share Stampede received for its last
public financing in August, 2022), even though the closing price
today on the TSX Venture Exchange was $0.24 per Common Share. This was done in order to
align the exercise price of the Options with the Company's
commitment to preserving shareholder value.
The Options were granted pursuant to the amended and restated
stock option plan of the Company, as recently approved by the
shareholders of the Company on May 16,
2023.
Neither 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.
SOURCE Stampede Drilling Inc.