CALGARY, ALBERTA--(Marketwired - Feb. 24, 2014) - Tuscany Energy Ltd. (TSX VENTURE:TUS) announced today that its Board of Directors has approved the issuance of options to purchase 1,250,000 common shares of the Corporation at a price of $0.37 per share, exercisable until February 23, 2019.
The options are being issued to directors, officers, employees and consultants of the Corporation in accordance with Tuscany's Share Option Plan which was reapproved by the Company's shareholders at the Annual and Special Meeting held on July 15, 2013.
The total number of options outstanding after the issuance is 1,834,875, or 10% of the issued and outstanding common shares of the Corporation.
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