Jericho Oil Announces Grant of Incentive Stock Options, Reduction in Management Salaries and Cessation of Directors Fees
TULSA, Okla. and VANCOUVER, British Columbia, June 16, 2020 (GLOBE NEWSWIRE) — Jericho Oil Corporation (“Jericho” or the “Company”) (TSX-V: JCO; OTC PINK: JROOF) announces that it has granted incentive stock options (the “Options”), pursuant to its stock option plan (the “Plan”), of 4,725,000 common shares of the Company, to certain directors and officers of the Company.The Options are exercisable at a price of $0.15 CAD for a period of up to 5 years.About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK play of Oklahoma. Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves. Jericho has assembled a 55,000 net acre position across Oklahoma.The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.