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LG.v Lions Gate Energy names Saxton as director...hsb

2012-07-03 07:14 ET - News Release



Mr. J. Frank Callaghan reports

LIONS GATE ENERGY INC.: CORPORATE UPDATE

Farshad Shirvani has resigned from the board of directors of Lions Gate Energy Inc. Paul Saxton, PEng, an experienced public company director, has agreed to fill the vacancy left by Mr. Shirvani's resignation. The company thanks Mr. Shirvani for his service and wishes him well in his future endeavours.

The company also announces that, pursuant to its incentive stock option plan, it has granted incentive stock options to certain directors, officers, employees and consultants of the company to purchase up to a total of 357,619 common shares in the capital stock of the company. The options are exercisable at a price of 8.5 cents per share for a period of five years from the date of grant.

This news release has been prepared on behalf of the board of directors which takes full responsibility for its contents.

We seek Safe Harbor.