CALGARY, ALBERTA -- (Marketwired) -- 05/13/13 -- Bayshore Petroleum Corp. (TSX VENTURE: BSH) ("Bayshore" or the "Corporation") announces that the Board of Directors has, subject to TSX Venture Exchange acceptance, granted options to purchase 500,000 common shares of the Corporation to certain of its directors, officers, employees and consultants. The options were issued at an exercise price of $0.27 per share for a five year term, with one half vesting immediately and one half vesting in 12 months. The Corporation had, immediately prior to this grant, 1,102,143 outstanding stock options.
Bayshore is a Calgary, Alberta based corporation engaged in the exploration, development and production of petroleum and natural gas. The Common Shares are listed on the TSX Venture Exchange under the trading symbol "BSH".
Statements in this press release may contain forward-looking information including expectations of future production, operating costs, commodity prices, administrative costs, commodity price risk management activity, acquisitions and dispositions, capital spending, access to credit facilities, income taxes, regulatory changes, and other components of cash flow and earnings. The reader is cautioned that assumptions used in the preparation of such information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the company. These risks include, but are not limited to, the risks associated with the mining industry, commodity prices and exchange rate changes. Industry related risks could include, but are not limited to, operational risks in exploration, development and production, delays or changes in plans, risks associated to the uncertainty of reserve estimates, health and safety risks and the uncertainty of estimates and projections of production, costs and expenses. The reader is cautioned not to place undue reliance on this forward-looking information.
Neither the 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 this release.
Bayshore Petroleum Corp.
President and Chief Executive Officer
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