CALGARY, ALBERTA--(Marketwire - Dec. 23, 2011) - Samoth Oilfield Inc. (TSX VENTURE:SCD) ("Samoth" or the "Corporation") announced today that, subject to regulatory approval, it has granted a total of 1,143,889 options to purchase common shares of the Corporation to the directors, officers and consultants of Samoth, in accordance with the Corporation's stock option plan. These options expire ten years from the date of grant and have an exercise price of $0.10. Out of these options, 921,889 options were granted to directors and officers of the Corporation. Samoth 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).
Samoth also announced that it has changed its auditors from MacKay LLP to Grant Thornton LLP. There were no "reportable events" (as such term is defined under National Instrument 51-102) in connection with this change of auditors.
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 OR ACCURACY OF THIS RELEASE
Contact Information:
Leonard D. Jaroszuk
President and Chief Executive Officer
(780) 418-4400
(780) 915-5999 (FAX)
ld.jaroszuk@enterpriseoil.ca