Iona Energy Announces Stock Option Grant

Tue Mar 5, 2013 3:13pm EST

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Marketwire

Iona Energy Inc.

March 5, 2013 - 03:13:22 PM

Iona Energy Announces Stock Option Grant

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.

FOR FURTHER INFORMATION PLEASE 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




        

Neither the TSX Venture Exchange Inc. 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.
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