Kelowna, British Columbia, Canada, December 15, 2017: Georox Resources Inc. ("Georox" or the "Corporation") (GXR:TSX-V; OF6A:FRA) announces the issuance of incentive stock options to Consultants of the Corporation to acquire up to an aggregate of 350,000 common shares of the corporation at an exercise price of $0.07. All such options are exercisable for a period of two years and the shares are vested on a quarterly basis of not less than eighteen months from the date of grant. Upon granting of the options described above, Georox will have 1,550,000 options outstanding which represents 5.8% of the issued and outstanding shares.
The Legal Entity Identifier is the International ISO standard 17442. LEIs are identification codes (across markets and jurisdictions that enable consistent and accurate identification of all legal entities that are parties to financial transactions, including non-financial institutions). LEI is a requirement for listing on European Stock Exchanges. The LEI for Georox is: 529900TTNC13R1V00707.
Georox is a public oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada. Georox will use its experience to develop, acquire and drill assets with potential for primary and secondary recovery.
This news release contains forward-looking statements relating to the future operations of the Corporation and other statements that are not historical facts.
Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Corporation, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Georox. These risks include, but are not limited to; the risks associated with the oil and gas industry, availability of capital to carry on operations, commodity prices, financial market volatility, availability of key personnel and exchange rate changes. Industry related risks could include, but are not limited to: operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, environmental, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward looking information.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States. The Units (or constituent securities) have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Burkhard Franz, President and Chief Executive Officer