CALGARY, ALBERTA--(Marketwire - July 5, 2012) - CYGAM Energy Inc. (TSX VENTURE:CYG) ("CYGAM", or the "Company"), an emerging oil and gas company with interests in Tunisia and Italy, announces that pursuant to the terms and conditions of its stock option plan, it has granted, in the aggregate, 1,257,000 stock options to purchase Common Shares of CYGAM (the "Options"), to certain directors, officers and consultants. The Options vest immediately, are exercisable at an exercise price of $0.17 per share and expire as follows: one third after one year, one third after two years and the remaining third after three years.
About CYGAM Energy Inc.
CYGAM is a Calgary based exploration company with extensive international exploration permits and producing properties in Tunisia. The main focus of the Company is the acquisition, exploration and development of international oil and gas permits, primarily in Italy, Tunisia and the Mediterranean Basin. CYGAM currently holds various interests in seven exploratory permits in Italy and three exploratory permits in Tunisia encompassing approximately 2.7 million gross acres.
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.