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.