Jadela Re-Prices Warrants And Stock Options
FOR IMMEDIATE RELEASE
Calgary, Alberta CANADA, March 05, 2013 /FSC/ - Jadela Oil Corp. (JOC - TSX Venture), March 5, 2013
Calgary, Alberta - Jadela Oil Corp. (TSXV: JOC) ("Jadela" or the "Corporation") wishes to announce that it has received shareholder and TSX Venture Exchange approval to reduce the exercise price on an aggregate of 19,319,430 outstanding warrants to a price of $0.30 per common share. These warrants were originally issued with an exercise price of either $0.75 or $1.50 per common share. The warrants will expire on various dates between May 2013 and September 2013 provided, however, that if the volume weighted average closing price of the Corporation's common shares exceeds $0.30 per common share for more than 10 consecutive trading days, the Corporation may accelerate the warrant exercise period to a date which is twenty (20) calendar days following the date a press release is issued by the Corporation announcing the reduced warrant exercise period. Warrantholders will be required to make an election to affirm the existing arrangements or to amend the warrant terms. Warrantholders will have until April 5, 2013 to elect.
The Corporation also wishes to announce that it has received shareholder and TSX Venture Exchange approval to reduce the exercise price of an aggregate of 1,363,000 stock options to a price of $0.30 per common share. The stock options were originally issued in 2010 and 2011 at an exercise price of $1.00 per common share. These stock options were issued with 5 year expiry dates.
About Jadela
Jadela is a junior oil and gas exploration company. For additional details, please visit Jadela's website at www.jadelaoil.com For further information, please contact:
Gregory J. Leia, President
Jadela Oil Corp.
Suite 1510 - 777 - 8th Street SW
Calgary Alberta T2P 3R5
T: (403) 265-7544
E: gleia@jadelaoil.com
Website: www.jadelaoil.com
Reader Advisory
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.
To view this press release as PDF, click on following link:
http://www.usetdas.com/PR/jadelaPRmar5JB.pdf
Source: Jadela Oil Corp. (TSXV: JOC)
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