Terrex Energy Inc. Announces Option Grants
May 21 2012 - 12:19AM
PR Newswire (Canada)
CALGARY, May 24, 2012 /CNW/ - Terrex Energy Inc. ("Terrex" or the
"Company") announces that its board of directors today granted
options to officers, employees and consultants of Terrex in
accordance with its stock option plan to purchase 4,170,000 common
shares of Terrex. The options have a term of five years from the
date of grant and become exercisable as to one third on each of May
24, 2013, 2014, and 2015. The options have an exercise price of
$0.055 per share determined based upon the volume weighted average
price of the Company's shares for the five day period ended May 24,
2012. ABOUT TERREX Terrex Energy Inc. is a Calgary based junior oil
company that focuses on the application of proven enhanced oil
recovery ("EOR") methods to improve oil production from existing
mature fields. Terrex targets underexploited and undercapitalized
light to medium oil reservoirs in Western Canada. The Company's
shares are listed on the TSX Venture Exchange under the trading
symbol "TER". Neither the TSX 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. The securities of Terrex have not been,
nor will be, registered under the United States Securities Act of
1933, as amended, and may not be offered or sold within the United
States or to, or for the account or benefit of, U.S. persons absent
U.S. registration or an applicable exemption from U.S. registration
requirements. This news release does not constitute an offer for
sale of securities in the United States. Terrex Energy Inc CONTACT:
For additional information please contact Jonathan Lexier,President
&CEO, or Norman Knecht, VP Finance and CFO, at (403) 264-4430,
or visitthe Company's website at www.terrexenergy.ca
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