ATHA Energy Grants Stock Options and RSUs to Eligible Participants

Vancouver-based ATHA Energy Corp. has announced the grant of 10,150,000 incentive stock options and 1,300,000 restricted share units to eligible participants, under its equity incentive plan. The recipients include certain directors and officers of the company. The options will vest in three equal parts: on issuance, after six months, and after one year, with an exercise price of $0.61, valid for five years. The restricted share units will vest after one year, allowing holders to receive common shares.

Under the plan, common shares issuable through these awards cannot exceed 10% of ATHA’s total shares, currently 31,654,604. The company utilized exemptions under Multilateral Instrument 61-101 for transactions involving related parties, as the shares are not listed on a specified market.