Iona Energy Announces Stock Option Grant

Marketwired

CALGARY, ALBERTA--(Marketwire - March 5, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES

Iona Energy Inc. ("Iona" or the "Company") (TSX VENTURE:INA) announces that pursuant to the terms of its stock option plan, Iona's Board of Directors has approved the granting of options to purchase an aggregate of 7,420,000 common shares at a price of $0.63 per share, of which, 5,970,000 options were granted to insiders. The options will have a term of five years and time vesting provisions with 25% vesting immediately and a further 25% vesting on the first, second and third anniversaries of the date of grant.

As of March 5, 2013, Iona has 366,723,568 common shares issued and outstanding.

About Iona Energy:

Iona is an oil and gas exploration, development and production company focused on oil and gas development and exploration in the United Kingdom's North Sea.

Contact:
Iona Energy Inc.
Neill A. Carson
Chief Executive Officer
+011 (44) 7919 057989

Iona Energy Inc.
Brad G. Gunn
Chief Financial Officer
(403) 775-7442

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