Pine Cliff Energy Ltd. Grants Stock Options

Calgary, Alberta--(Newsfile Corp. - November 8, 2019) - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff") announces that it has granted an aggregate of 5,463,768 stock options to its directors, officers and employees, of which 2,880,350 were granted to its directors and officers. The stock options vest between one to three years, have an exercise price of $0.145 per share and will expire between November 8, 2021 and November 8, 2023. As of the date hereof and after the grant of the options described above, the total number of Pine Cliff common shares reserved for issuance pursuant to stock options outstanding is 30,491,730, which represents 9.3% of common shares outstanding.

About Pine Cliff

Pine Cliff is a natural gas company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on www.sedar.com as well as on Pine Cliff's website at www.pinecliffenergy.com.

For further information, please contact:
Philip B. Hodge - President and CEO
Cheryne Lowe - CFO and Corporate Secretary
Telephone: (403) 269-2289
Fax: (587) 393-1693
Email: [email protected]

Not for Distribution in the United States or over United States Newswire Services

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49581

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