Edge Resources Inc. announced today that it has granted incentive stock options for a total of 1,200,000 common shares of the Corporation at a price of $0.36 per share (with respect to 1,000,000 of the options) and $0.30 per share (with respect to 200,000 of the options) all for a period of five years, under the formal stock option plan approved at the Annual General Meeting held on August 31, 2010, subject to regulatory approval, to certain directors, officers and employees of the Corporation. A maximum of 10% of the issued shares are reserved for issuance for the Corporation’s Stock Option Policy. The options are subject to a four month and one day hold period from the date of grant.
About Edge Resources Inc.
Edge Resources is focused on the exploration, development and production of oil and natural gas, most prominently from the Edmonton Sands group of formations, a conventional, shallow gas group of reservoirs located in Central Alberta, Canada. The management team’s very high success rate is based on the safe, efficient deployment of capital and a proven ability to efficiently execute in shallow formations, which gives Edge Resources a sustainable, low-cost, competitive advantage.
The Alberta Government estimates that there is 44 trillion cubic feet (“TCF”) of non-producing, shallow natural gas in Alberta. Edge Resources’ management team has evaluated over 20,000 sections of land and has identified over 200 “five-star” sections.