| ||November 22, 2010|
Troymet Exploration Corp. Grants 1.45 Million Stock Options
| ||November 22, 2010 - Troymet Exploration Corp. (the "Corporation") (TYE -- TSX-V) has today granted 1.45 million options to purchase common shares of Troymet to directors, officers, consultants and investor relations consultants of the Corporation in accordance with the Corporation's stock option plan. All of the options granted have an exercise price of $0.21 per share and expire 5 years from the date of grant. Out of these options, 700,00 were granted to directors and officers of the Corporation, 250,000 were granted to a consultant of the Corporation and 500,000 were granted to Senergy Communications Inc. ("Senergy"), an investor relations consultant of the Corporation. The options granted to Senergy vest as to 25% of the options on each of the 3, 6, 9 and 12 month anniversaries of the date of grant (such that the options are fully vested 12 months from the date of issuance). The remaining 1.2 million options were issued as fully vested to directors, officers and consultants of the Corporation.|
Troymet has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors and officers of the Corporation (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
For further information, contact:
Kieran Downes (250) 729-0453; email@example.com
Brian Cebryk (250) 890-0607; firstname.lastname@example.org
Neither the 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 of accuracy of this news release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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