Cub Energy Inc. (TSX VENTURE:KUB) reports that the Board of Directors has granted options to acquire an aggregate of 17,855,000 common shares of Cub to directors, officers, employees and consultants of the Company in accordance with the Company's stock option plan.
Each optionee, on a pro rata basis, will be entitled to exercise 25% of the options granted at a price of $0.30 and 75% at a price of $0.40. The term of the options granted is for a period of five years from date of grant and a two-year vesting period with 12.5% of the grants vesting every three months. The options were granted pursuant to Cub's stock option plan and subject to regulatory approval.
Following the grant of the options described in this news release, the issued capital of Cub is as follows:
| Security Type || || No. Of Shares |
| Common Shares || || 311,746,352 |
| Options || || 23,979,451 |
| Warrants || || 11,040,305 |
| Fully Diluted || || 346,766,108 |
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