Rally Energy also announces the resignation of John G.F. McLeod from the position of Vice-President, Operations. Mr. McLeod continues to sit as a Director of Rally Energy.
New Options Issuance
Rally Energy's Board of Directors has granted 175,000 new options at an exercise price of $1.85 each, for a term of five years, to an officer of the Corporation. All new options vest over a period of two years with one-third vesting immediately. There are currently 6,240,090 options outstanding representing approximately 8% of outstanding common shares.
Debenture Conversions in 2005
Since the beginning of 2005, $2.2 million of Rally Energy's $6.0 million of outstanding 12% Convertible Debentures have been converted to common shares at a conversion price of $1.00 per share.
Most Popular Articles
From the Career Center
Jobs that may interest you