KFG
Resources Announces Stock Option Grants
NATCHEZ,
MISSISSIPPI - KFG Resources Ltd. (the "Company" or "KFG"), an independent
emerging North American natural gas exploration and production company, is
pleased to announce grants of stock options.
Options
have been granted as follows:
|
Name |
Position |
No. of
Optioned Shares |
| Robert A.
Kadane |
President, Chief Executive
Officer, Chief Financial Officer, Treasurer |
1,000,000 |
| Stephen
Guido |
Vice-President Operations,
Chief Operating Officer |
1,000,000 |
| James F.
Gilbert |
Vice-President, Secretary
|
150,000 |
| Michael P.
Raftery |
Director |
150,000 |
| Keith N. Pople
|
Director |
150,000 |
| Patsy Brown
|
Assistant Secretary |
150,000 |
| Sarah Graves
|
Employee |
150,000 |
Each
option shall be exercisable for one KFG common share. The exercise price
for the options shall be $0.10 per Share, and shall vest immediately, subject
to a four month hold period consistent with the requirements of the TSX Venture
Exchange. The options shall expire on October 14, 2013.
The
options are issued under the terms of the KFG stock option plan (the
"Plan"). The Plan was adopted by shareholders on September 24, 2004 and
amended at the Annual General Meeting of the shareholders of the Company on
September 12, 2008. The plan reserves for issuance 4,200,000 common
shares of the Company, being just under 10% of the issued and outstanding
shares of the Company presently outstanding.
For
further information please contact:
KFG Resources Ltd.,
118 Lower
Woodville Road,
Natchez, Mississippi, 39120
Phone (303) 825-7080
Mr.
Robert A. Kadane,
President
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this press release."
|