Press release from Marketwire
Arcan Resources Ltd. Issues Options
Friday, December 02, 2011
CALGARY, ALBERTA--(Marketwire - Dec. 2, 2011) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Arcan Resources Ltd. ("Arcan") (TSX VENTURE:ARN) announces that on December 1, 2011, pursuant to the provisions of its stock option plan, it granted an aggregate of 998,000 options to acquire an equivalent number of common shares of Arcan to certain directors, officers and employees of Arcan. The options have an exercise price of $4.60 per share and expire on December 1, 2016. All stock option grants of Arcan are subject to receipt of necessary regulatory approvals, including the approval of the TSX Venture Exchange.
Arcan Resources Ltd. is an Alberta, Canada corporation that is principally engaged in the exploration, development and acquisition of petroleum and natural gas located in Canada's Western Sedimentary Basin.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ed Gilmet Arcan Resources Ltd. President & Chief Executive Officer (403) 262-0321 email@example.com
Douglas Penner Arcan Resources Ltd. Executive Vice President & Chief Financial Officer (403) 262-0321 firstname.lastname@example.org
Suite 2500, 308 - 4th Avenue S.W. Arcan Resources Ltd. Calgary, AB T2P 0H7 (403) 262-0321
Neither 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.