Arrow Exploration Grants New Stock Options and Settles PDMR Exercises in Cash

Arrow Exploration Corp ( (TSE:AXL) ) has provided an announcement.

Arrow Exploration Corp., the AIM‑ and TSXV‑listed Colombian oil producer, has granted 2,881,296 stock options to directors, officers and employees under its shareholder‑approved stock option plan. The awards, which include 2,531,297 options to PDMRs such as CEO Marshall Abbott, carry a strike price of CAD 0.375, vest in thirds over three years and expire six months after each vesting date, taking total options outstanding under the plan to 20,845,001.

The company said the latest grants largely replace lapsed or exercised options, keeping overall option exposure for key managers broadly unchanged while supporting retention and alignment with shareholder value. Separately, PDMRs exercised 2,550,001 options via a cashless mechanism, with Arrow settling the intrinsic value in cash based on a volume‑weighted average price of CAD 0.408 and no new shares being issued, thereby avoiding immediate equity dilution for existing shareholders.

More about Arrow Exploration Corp

Arrow Exploration Corp. is a publicly traded oil and gas company focused on underexploited, high‑growth light oil assets in Colombia. Operating through its Swiss subsidiary, the group holds predominantly operated, high‑working‑interest positions in key basins including the Llanos, Middle Magdalena Valley and Putumayo, with Brent‑linked pricing and low royalties designed to support strong operating margins.

The company, listed on AIM in London and the TSX Venture Exchange under the symbol AXL, aims to expand production from some of Colombia’s most active hydrocarbon basins. It is also entitled to 50% of production from the Tapir block under private agreements with its partner, with the right to seek assignment of 50% of all rights and obligations under the Tapir Association Contract with Ecopetrol.

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