|By Marketwired .||
|July 2, 2014 06:13 PM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 07/02/14 -- CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM", or the "Company"), an emerging oil and gas company with interests in Tunisia and Italy, announces that pursuant to the terms and conditions of its stock option plan, it has granted 795,000 stock options to purchase Common Shares of CYGAM (the "Options") to certain directors and officers of the Company at an exercise price of $0.05 per share. The Options vest immediately and expire one third on July 1, 2015, one third on July 1, 2016 and the remaining third on July 1, 2017.
Following the grant of these options there will be 12,871,867 stock options outstanding. On July 6, 2014, 826,334 options expire and following these expiries, there will be 12,045,533 stock options outstanding. The Company has 131,350,937 issued and outstanding common shares.
About CYGAM Energy Inc.
CYGAM is a Calgary based exploration company with extensive international exploration permits and a producing property in Tunisia. The main focus of CYGAM is the acquisition, exploration and development of international oil and gas permits, primarily in Italy and Tunisia. CYGAM currently holds various interests in five exploratory permits in Italy plus two exploratory permits and the BBT Production Concession in Tunisia which together encompass a total of approximately 1.4 million gross acres.
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.