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Lonestar West Inc.: Lonestar Announces Option Grants

  //science-technology.news-articles.net/content/2 .. r-west-inc-lonestar-announces-option-grants.html
  Published in Science and Technology on Wednesday, April 1st 2009 at 12:38 GMT, Last Modified on 2009-04-01 12:39:12 by Market Wire
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TORONTO, ONTARIO--(Marketwire - April 1, 2009) - Lonestar West Inc. (TSX VENTURE:LSI) ("Lonestar" or "the Company") announced that it has granted 325,000 incentive stock options to members of management of the Company (the "Management Options") and an aggregate of 175,000 incentive stock options to two (2) independent directors of the Company under its Stock Option Plan (collectively, the "Director Options"). All Management Options and Director Options are exercisable at $0.50 per common share.

In addition, the Company also announced that it has granted 100,000 incentive stock options to certain employees and consultants of the Company (the "Employee/Consultant Options"). The Employee/Consultant Options are exercisable at $0.50 per common share.

The Management Options, Director Options and Employee/Consultant Options all expire on April 1, 2014.

All options granted and any common shares issued upon their due exercise will be subject to a statutory four-month and one-day hold expiring August 2, 2009. The granting of the options are subject to regulatory acceptance of applicable filings.

About Lonestar West

The Company is an Alberta based company providing industrial vacuum services. The Company currently operates a fleet of six vacuum trucks and two hydro-vac trucks. The Company's plan is to increase its fleet of hydro-vac trucks over the next 12 months. The Company's customers are primarily engaged in oil and natural gas exploration and development and mid-stream infrastructure construction and maintenance.

For more information please visit the Lonestar West website at [ www.lonestarwest.com ].

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.