CALGARY, AB, Nov. 15, 2024 /CNW/ - Alvopetro Energy Ltd. (TSXV: ALV) (OTCQX: ALVOF) ("Alvopetro" or the "Company") announces the annual rolling grants of long-term incentive compensation to officers, directors and employees under Alvopetro's Omnibus Incentive Plan. A total of 251,000 stock options, 213,000 restricted share units ("RSUs") and 68,000 deferred share units ("DSUs") were granted on November 15, 2024. Of the total grants, 163,000 RSUs and 68,000 DSUs were granted to directors and officers, with no stock options granted to any director or officer. Each stock option, RSU and DSU entitles the holder to purchase one common share. Each stock option granted has an exercise price of C$4.89, being the volume weighted average trading price of Alvopetro's shares on the TSX Venture Exchange for the five (5) consecutive trading days up to and including November 15, 2024. All stock options, RSUs and DSUs granted expire on November 15, 2029.
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