Grant of Stock Options
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CALGARY, September 12, 2024 - Arrow Exploration Corp. (AIM: AXL; TSXV: AXL) ("Arrow" or the "Company"), the high-growth operator with a portfolio of assets across key Colombian hydrocarbon basins, is pleased to announce a stock options grant.
Stock Options Grant
The Company has granted 4,332,221 stock options ("Options") to Directors, officers and employees, pursuant to the Company's Stock Option Plan (the "Plan"). The Plan is intended to assist in attracting, retaining, engaging and rewarding directors, officers and employees of the Company, provide additional incentive to these people for their efforts on behalf of the Company, and to align with the enhancement of shareholder value. Under the Plan, the Company is able to issue Options to a maximum of 10% of the number of issued and outstanding common shares in the Company from time to time. The following PDMRs have been granted the options listed below:
PDMR Options Granted
| Gage Jull | 1,255,000 |
| Joe McFarlane | 1,255,000 |
| Anthony Zaidi | 477,777 |
| Ravi Sharma | 477,777 |
| Total PDMR Options Granted | 3,465,554 |
The Options have a strike price of CAD 0.475, and vest in thirds on each of the first, second and third anniversaries of grant. The options expire six months from vesting. Following these grants, the Company shall have a total 27,663,334 options issued under the Plan.
About Arrow Exploration Corp.
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