AltaCanada announces issuance of common shares for services
TSX-V SYMBOL: ANG
The Corporation intends to issue Common Shares to four employees, namely,
The Board of Directors of the Corporation has determined that it would be fair and reasonable to issue the Common Shares to the Recipients as partial compensation for their services in lieu of cash. It is also the view of the Corporation that to do so would be in its best interest by reducing general and administrative cash expenses at a time when junior oil and gas companies are experiencing reduced cash flows.
The Common Shares to be issued will be subject to a hold period of four months and a day from the date of issuance, pursuant to applicable securities laws and the policies of the TSX Venture Exchange.
The Corporation is engaged in the acquisition, exploitation and production of crude oil and natural gas reserves in Western
NEITHER THE 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.
For further information: Donald Foulkes, President & CEO, Telephone: (403) 265-9091 (ext 248), Fax: (403) 265-9021, Email: [email protected]; Donald Jackson, Executive VP & COO, (403) 265-9091 (ext 234), (403) 265-9021
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