Bengal Energy Announces Stock Option Grant

Rhea-AI Summary

Bengal Energy (OTC: BNGLF) granted stock options under its Stock Option Plan. On May 8, 2026, the company issued 20,900,000 options to employees, officers and directors at an exercise price of $0.04 per share, matching the TSX closing price.

The options vest over three years, with one-third vesting on each anniversary of the grant date, and expire five years after issuance, subject to the Stock Option Plan terms.

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• None.

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• Issuance of 20,900,000 stock options may increase the future share count if exercised

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Calgary, Alberta--(Newsfile Corp. - May 11, 2026) - Bengal Energy Ltd.  (TSX: BNG) ("Bengal" or the "Company") announces that it has issued an aggregate of 20,900,000 options to purchase common shares of the Company pursuant to its Stock Option Plan. The options were granted on May 8, 2026, to employees, officers and directors of the Company and have an exercise price of $0.04/share, being the closing price of the Company's common shares on the TSX on that date. The options vest over a 3-year period, as to one-third of the total number granted on each of the first, second and third anniversaries of the date of grant and shall expire 5 years from issuance, subject to the terms of the Company's Stock Option Plan.

About Bengal

Bengal Energy Ltd. is an international junior oil and gas exploration and production company with assets in Australia. The Company is committed to growing shareholder value through international exploration, production, and acquisitions. Bengal's common shares trade on the TSX under the symbol "BNG". Additional information is available at www.bengalenergy.ca

FOR FURTHER INFORMATION PLEASE CONTACT:
Bengal Energy Ltd.
Chayan Chakrabarty, President & Chief Executive Officer, Jerrad Blanchard, Chief Financial Officer
(403) 205-2526
Email: investor.relations@bengalenergy.ca Website: www.bengalenergy.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296796

FAQ

What did Bengal Energy (OTC: BNGLF) announce about its May 2026 stock option grant?

Bengal Energy announced a grant of 20,900,000 stock options under its Stock Option Plan. According to Bengal Energy, the options were issued on May 8, 2026 to employees, officers and directors with specific vesting and expiry terms.

How many stock options did Bengal Energy (BNGLF) grant on May 8, 2026?

Bengal Energy granted 20,900,000 stock options on May 8, 2026. According to Bengal Energy, these options allow holders to purchase common shares under the company’s Stock Option Plan, subject to vesting over three years and a five-year expiry.

What is the exercise price of the new Bengal Energy (BNGLF) stock options?

The exercise price of Bengal Energy’s new stock options is $0.04 per share. According to Bengal Energy, this price equals the closing price of its common shares on the TSX on May 8, 2026, the date the options were granted.

What is the vesting schedule for Bengal Energy’s May 2026 stock option grant?

Bengal Energy’s May 2026 stock options vest over a three-year period. According to Bengal Energy, one-third of each option grant vests on each of the first, second and third anniversaries of the May 8, 2026 grant date.

When do Bengal Energy (BNGLF) May 2026 stock options expire?

Bengal Energy’s May 2026 stock options expire five years from issuance. According to Bengal Energy, the options granted on May 8, 2026 remain exercisable until five years after that date, subject to the terms of the Stock Option Plan.

Could the Bengal Energy May 2026 stock option grant dilute BNGLF shareholders?

The grant could increase the share count if options are exercised. According to Bengal Energy, 20,900,000 options to buy common shares were issued, which may convert into additional shares over time under the plan’s terms.