VANCOUVER, BRITISH COLUMBIA–(Marketwired – July 31, 2015) – Opal Energy Corp. (the “Company” or “Opal“) (TSX VENTURE:OPA) announces that it intends, subject to approval of the TSX Venture Exchange (the “Exchange“), to extend the term of 6,559,998 common share purchase warrants (the “Warrants“) that were issued under the Company’s private placement of units completed on September 16, 2014. The Warrants that are the subject of the application have an exercise price of $0.12 per common share and are set to expire on September 16, 2015. Insiders of the Company hold less than 1% of these Warrants. The Company is applying for consent to extend the term of the Warrants from twelve (12) months to eighteen (18) months from the date of original issuance of the Warrants in accordance with Exchange policies.
Opal also announces that it has granted stock options to acquire up to 100,000 common shares of the Company. The stock options are exercisable for a five year term expiring on July 31, 2020 and exercisable until that time at a price of $0.10 per common share. The options vest immediately upon the date of grant. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four month resale restriction expiring December 2, 2015.
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.