TORONTO, ONTARIO--(Marketwire - Feb. 25, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Quetzal Energy Ltd. (TSX VENTURE:QEI) ("Quetzal" or the "Company") The Board of Directors effective today in connection with S. Brian Gieni's appointment as President of the Company approved the grant of 1,000,000 incentive stock options to Mr. Gieni. In addition the Board of Directors also effective today approved the grant of 300,000 incentive stock options to Gerry Feldman a Director of the Company. These stock options are subject to vesting over a period of 18 months with one-quarter of the option shares vesting immediately and one-quarter vesting on each of the six, twelve and eighteen month period following the date of grant. Those options granted to Mr. Gieni are exercisable at $0.17 per share and those options granted to Mr. Feldman are exercisable at $0.20. These options are exercisable for a period of five years from February 11th, 2010, pursuant to the Company's stock option plan and in accordance with the policies of the TSX Venture Exchange.
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 this release.