BNP Resources granted options on December 24, 2007 to acquire up to 197,077 Class A shares of BNP, 167,077 of which were granted to directors and officers and 30,000 of which were granted to a consultant. Each grant of options is for a five year term, expiring on December 24, 2012.
The options vest over three years (1/3 on each of the first, second and third anniversary of the grant date). The options are exercisable at a price of $1.35 per Class A Share.
BNP is actively engaged in the exploration for, the development and production of, natural gas and oil reserves. BNP's business strategy is to build sustainable and profitable per share growth through selective acquisitions and internally generated exploration and development drilling.
BNP has approximately 13,594,577 Class A shares and 922,500 Class B shares issued and outstanding which trade on the TSX Venture Exchange under the symbols "BNX.A and "BNX.B."
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