Altima Resources Ltd. (TSXV: ARH.V) granted options that allow eligible participants to buy up to 5,450,000 common shares priced at seven cents each, the company said March 20.
The options grant is pursuant to a fixed-stock option plan on a five-year term that expires March 19, 2019, the company added.
Under this plan, 19,500,000 common shares are reserved for issuance, the company said, noting that of this amount, 12,000,000 are currently outstanding. This leaves 2,050,000 shares for future grants, the company added.
Vancouver-based Altima Resources Ltd. explores and develops petroleum and natural gas in western Canada.
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