Strata-X Announces Grant of Stock Options
Golden, Colorado, and Edmonton, Alberta, September 26, 2012 -The directors and management of Strata-X Ltd ("Strata-X" or the "Company") today announced that following the close of markets on Tuesday, September 25, 2012, it granted stock options to acquire up to 1,000,000 common shares of the Company to certain of its officers, directors, and consultants.
The Company also determined to issue finders' warrants to acquire up to 200,000 common shares of the Company to external consultants who assisted the Company in securing exploration permits in Canning Basin, Western Australia (see press release dated March 6, 2012).
The stock options and finders' warrants have an exercise price of $0.34 per common share, being the closing price of the Company's common shares on the TSX Venture Exchange on September 25, 2012. The stock options vest immediately and will expire on September 25, 2022. The finders' warrants will expire on September 22, 2015.
These grants of stock options and finders' warrants are subject to regulatory approval, including the approval of the TSX Venture Exchange.
Strata-X is a Golden, Colorado based company and is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota and Western Australia, and production and development opportunities in California and Texas. Strata-X has 45,474,005 common shares outstanding and trades under the symbol SXE on the TSX.V
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Public documents for Strata-X Ltd. can be found at SEDAR (www.sedar.com).