CORRE Announces Option Issuance
22 December 2011 - 9:22AM
Marketwired
Canadian Oil Recovery and Remediation Enterprises Ltd. (TSX
VENTURE:CVR)(OTCQX:CRVYF) ("CORRE" or the "Company") announces the
grant of an aggregate of 3,510,842 options to acquire CORRE common
shares at a price of $0.36 per common share to certain officers,
directors, employees and consultants of the Company. These options
will vest in four equal monthly installments beginning from the
date of their grant. The options expire on the earlier of their
fifth anniversary date or the time the optionees cease to serve as
officers, directors or employees of the Company.
About CORRE
CORRE (www.corre.com) is a Canadian-based clean technology
company that provides innovative and complete oil waste management
and environmental solutions to its customers. CORRE's operating
lines include remediating oil-contaminated soil; treating sludge,
oil based muds and drilling waste; oil recovery; automated oil
storage tank cleaning; oil and gas engineering, and project
management. CORRE provides its services through its owned and
operated Advanced Recovery Equipment Systems ("ARES") and through
strategic operating partnerships. ARES is a platform of services
and operating equipment facilities based on proven technologies and
innovative operating processes. CORRE's customers are primarily in
the upstream petroleum sector (oil production and drilling
companies) and downstream petroleum sector (oil refinery,
transportation and distribution companies).
Forward Looking Statements
Except for statements of historical fact relating to the
Company, certain information contained herein constitutes
forward-looking statements. Forward-looking statements are based on
the opinions and estimates of management at the date the statements
are made, and are subject to a variety of risks and uncertainties
and other factors that could cause actual events or results to
differ materially from those projected in the forward-looking
statements. Except as required by applicable securities
requirements, the Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change. The reader is cautioned not to
place undue reliance on forward-looking statements.
Neither 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 the release.
Contacts: CORRE Ltd. Alex Gress CFO and Senior VP
416-368-4027agress@corre.com CORRE Ltd. Lindsay Cross
416-368-3050lcross@corre.comwww.corre.com
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