CALGARY,
Oct. 4, 2013 /CNW/ - Northern
Frontier Corp. (TSX-V: FFF) (the "Corporation") is pleased
to announce that its board of directors has granted options to
acquire up to an aggregate of 498,000 common shares of the
Corporation (the "Shares") to its senior officers and
directors, at an exercise price of $3.50 per Share (being the closing trading price
of the Shares on the TSX Venture Exchange (the "TSXV") on
October 3, 2013). Eight of the
nine non-management directors of the Corporation were awarded
options entitling them to acquire up to an aggregate of 330,500
Shares and the two senior officers of the Corporation received
options entitling them to purchase up to an aggregate of 167,500
Shares. All options were granted under the Corporation's
share option plan, have a five-year term and vest (as to one third
of the number of Shares that may be purchased) on the first, second
and third anniversaries of the date of grant.
The Corporation provides sustaining capital
services to large industrial energy customers in the steam assisted
gravity drainage region of northeastern Alberta. Specifically, the Corporation
provides civil services related to the construction and maintenance
of roads, production pads, piping corridors, facility earthworks
and infrastructure. The outstanding common shares of the
Corporation are listed and posted for trading on the TSXV under the
trading symbol "FFF".
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Northern Frontier Corp.