The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from Marketwire

Arcan Resources Ltd. Issues Options

Friday, September 07, 2012

Arcan Resources Ltd. Issues Options20:50 EDT Friday, September 07, 2012 CALGARY, ALBERTA--(Marketwire - Sept. 7, 2012) -NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESArcan Resources Ltd. ("Arcan") (TSX VENTURE:ARN) announces that on September 7, 2012, pursuant to the provisions of its stock option plan, it granted an aggregate of 1,107,000 options to acquire an equivalent number of common shares of Arcan to certain officers and employees of Arcan. No directors were issued options in this grant. The options have an exercise price of $1.33 per share. The options expire on September 7, 2017. All stock option grants of Arcan are subject to receipt of the necessary regulatory approvals.About Arcan 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: Terry McCoyArcan Resources Ltd.Chief Executive Officertmccoy@arcanres.comORDouglas PennerArcan Resources Ltd.Presidentdpenner@arcanres.comORSuite 2500, 308 - 4th Avenue S.W.Arcan Resources Ltd.Calgary, AB T2P 0H7(403) 262-0321Neither 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.