CALGARY, Dec. 30, 2014 /CNW/ - Northern Frontier
Corp. (TSX-V: FFF) (the "Corporation") announces that its
board of directors (the "Board") has granted the following
options to two senior officers of the Corporation:
- options entitling the holder to acquire up to an aggregate of
265,000 common shares of the Corporation (the "Shares") at an exercise price of $2.15 per Share;
- options entitling the holder to acquire up to an aggregate of
80,500 Shares of the Corporation at an exercise price of
$3.50 per Share;
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.
Furthermore, the Corporation announces that the Board has
granted 108,000 restricted share units to two senior officers of
the Corporation entitling the holder to receive up to an aggregate
of 108,000 Shares of the Corporation. All RSU's were granted under
the Corporation's RSU plan. One-third of the RSU's vest immediately
and the remaining two-thirds of the RSU's vest on September 27, 2015 and September 27, 2016, in equal portions
respectively. A total of 36,000 Shares of the Corporation were
issued on December 30, 2014 related
to the RSU's that vested on the grant date.
About Northern Frontier Corp.
Northern Frontier's strategic objective is to create a large
industrial and environmental services business through a buy and
build growth strategy. Currently, the Corporation provides civil
construction and excavation services to the industrial industry,
primarily in the in situ Oilsands region south of
Fort McMurray, Alberta and bulk
water and fluids transfer logistic services in western
Canada.
The Corporation's common shares and common share purchase
warrants are listed on the TSX Venture Exchange under the trading
symbol "FFF" and "FFF.WT", respectively.
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.