New Zealand Energy Corrects Information Regarding Re-Priced Options
January 17 2014 - 7:00AM
Marketwired
New Zealand Energy Corrects Information Regarding Re-Priced Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 17, 2014) - New
Zealand Energy Corp. ("NZEC" or the "Company")
(TSX-VENTURE:NZ)(OTCQX:NZERF) today corrected information that was
included in a press release issued on January 13.
The January 13 press release stated that 4,361,200 incentive
stock options had been re-priced. The correct number is 5,551,200
options.
Pursuant to the Company's stock option plan, NZEC has re‐priced
5,551,200 incentive stock options issued historically to officers,
employees and consultants of the Company. The options were
originally granted with exercise prices ranging from $1.00 to
$3.00, and the Company will reduce the exercise price to $0.45. The
amendment to the exercise price is subject to the approval of the
TSX Venture Exchange. The vesting provisions related to the stock
option grants remain unchanged. The director's stock options,
granted at $1.00 per share, are not being re‐priced.
On behalf of the Board of Directors
John Proust, Chief Executive Officer and Director
About New Zealand Energy Corp.
NZEC is an oil and natural gas company engaged in the
production, development and exploration of petroleum and natural
gas assets in New Zealand. NZEC's property portfolio collectively
covers approximately 1.97 million acres of conventional and
unconventional prospects in the Taranaki Basin and East Coast Basin
of New Zealand's North Island. The Company's management team has
extensive experience exploring and developing oil and natural gas
fields in New Zealand and Canada, and takes a multi-disciplinary
approach to value creation with a track record of successful
discoveries. NZEC plans to add shareholder value by executing a
technically disciplined exploration and development program focused
on the onshore and offshore oil and natural gas resources in the
politically and fiscally stable country of New Zealand. NZEC is
listed on the TSX Venture Exchange under the symbol NZ and on the
OTCQX International under the symbol NZERF. More information is
available at www.newzealandenergy.com or by emailing
info@newzealandenergy.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
New Zealand Energy Corp.John ProustChief Executive Officer &
DirectorNorth American toll-free: 1-855-630-8997New Zealand Energy
Corp.Bruce McIntyreActing General Manager Exploration &
DirectorNorth American toll-free: 1-855-630-8997New Zealand Energy
Corp.Rhylin BailieVice President Communications & Investor
RelationsNorth American toll-free:
1-855-630-8997info@newzealandenergy.comwww.newzealandenergy.com
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