Falcon Oil & Gas Ltd. - Granting of stock options

February 19, 2021 2:00 AM EST

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Falcon Oil & Gas Ltd.

(“Falcon”, “Company”)

Granting of stock options

19 February 2021 - Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) announces that on 18 February 2021 it granted incentive stock options (“Options”) to purchase an aggregate of 38,000,000 common shares of Falcon to a number of recipients, including directors and officers under the stock option plan approved at Falcon’s annual shareholders meeting held on 10 December 2020.

The Options were granted at an exercise price of GBP£0.08 (equivalent to CDN$0.14) and GBP£0.12 (equivalent to CDN$0.21) respectively, details are included in the table below: 

NameNumber ofOptions granted at GBP£0.08Number ofOptions granted at GBP£0.12Total number of Options held after grant
JoAchim Conrad – Non - Executive Chairman1,000,0001,000,0002,000,000
Philip O’Quigley – CEO10,000,00010,000,00020,000,000
Anne Flynn – CFO5,000,000-11,000,000
Daryl Gilbert – Non - Executive Director1,000,0001,000,0002,000,000
Gregory Smith – Non - Executive Director1,000,0001,000,0002,000,000
Maxim Mayorets – Non - Executive Director1,000,0001,000,0002,000,000

The remaining 5,000,000 Options were granted to a consultant of Falcon and to a non-executive director of Falcon Oil & Gas Australia Limited, with 2,500,000 at an exercise price of GBP£0.08 and a further 2,500,000 at an exercise price of GBP£0.12.

All of the Options granted have a vesting schedule allowing for 1/3 of the Options to vest immediately with an additional 1/3 vesting on each subsequent anniversary until the Options are fully vested on 18 February 2023. The Options have an expiry date of 17 February 2026.

After this grant, there are 44,000,000 Options outstanding, representing 4.48% of the issued and outstanding common shares of Falcon.

Ends.

CONTACT DETAILS:

Falcon Oil & Gas Ltd.           +353 1 676 8702
Philip O'Quigley, CEO+353 87 814 7042
Anne Flynn, CFO+353 1 676 9162
 
Cenkos Securities plc (NOMAD & Broker) 
Neil McDonald / Derrick Lee+44 131 220 9771

About Falcon Oil & Gas Ltd.Falcon Oil & Gas Ltd is an international oil & gas company engaged in the exploration and development of unconventional oil and gas assets, with the current portfolio focused in Australia, South Africa and Hungary. Falcon Oil & Gas Ltd is incorporated in British Columbia, Canada and headquartered in Dublin, Ireland with a technical team based in Budapest, Hungary.

Falcon Oil & Gas Australia Limited is a c. 98% subsidiary of Falcon Oil & Gas Ltd. 

For further information on Falcon Oil & Gas Ltd. please visit www.falconoilandgas.com

Neither the 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.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Falcon assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Falcon. Additional information identifying risks and uncertainties is contained in Falcon’s filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Director / PDMR Shareholding

1Details of the person discharging managerial responsibilities/person closely associated  
a)NameJoAchim Conrad
2Reason for notification 
a)Position/StatusNon- Executive Chairman
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
GBP£0.12Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

1Details of the person discharging managerial responsibilities/person closely associated  
a)NamePhilip O’Quigley
2Reason for notification 
a)Position/StatusCEO
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 10,000,000 common shares in the Company
GBP£0.12Options in respect of purchase an aggregate of 10,000,000 common shares in the Company
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

1Details of the person discharging managerial responsibilities/person closely associated  
a)NameAnne Flynn
2Reason for notification 
a)Position/StatusCFO
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 5,000,000 common shares in the Company
  
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

1Details of the person discharging managerial responsibilities/person closely associated  
a)NameDaryl Gilbert
2Reason for notification 
a)Position/StatusNon - Executive Director
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
GBP£0.12Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

1Details of the person discharging managerial responsibilities/person closely associated  
a)NameGregory Smith
2Reason for notification 
a)Position/StatusNon - Executive Director
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
GBP£0.12Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

1Details of the person discharging managerial responsibilities/person closely associated  
a)NameMaxim Mayorets
2Reason for notification 
a)Position/StatusNon - Executive Director
b)Initial notification/AmendmentInitial Notification
3Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor 
a)NameFalcon Oil & Gas Ltd.
b)LEI213800KQY87Z1KNPIM76
4Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted  
a)Description of the financial instrument, type of instrumentIdentification code  Options in respect of common shares in the Company   AIM: FOG
b)Nature of the transactionGrant of options
c)Price(s) and volume(s)Price(s)Volume(s)
GBP£0.08Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
GBP£0.12Options in respect of purchase an aggregate of 1,000,000 common shares in the Company
d)Aggregated information
  • Aggregated volume
  • Price
N/A
e)Date of the transaction18 February 2021
f)Place of the transactionOutside an exchange

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Source: Falcon Oil & Gas Ltd


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