Petroamerica announces issuance of stock options

CALGARY, Aug. 28, 2015 /CNW/ - Petroamerica Oil Corp. (TSX-V:PTA) ("Petroamerica" or the "Company"), a junior oil and gas company operating in Colombia is pleased to announce the issuance of a total of 100,000 stock options ("Options") pursuant to the Company's stock option plan (the "Plan") to a director of the Company.

Effective August 27, 2015 a total of 100,000 Options have been granted to a director of the Company with a strike price of $0.67, which was the closing market price for Petroamerica common shares on that day.  This grant is subject to regulatory approval.  These Options were issued pursuant to the Plan and vest in thirds, with one third vesting on each of the first, second and third anniversaries of issuance, and expire on August 27, 2025.

About Petroamerica:

Petroamerica Oil Corp. is a Canadian oil and gas exploration and production company with interests in fifteen blocks, located in Colombia's Llanos and Putumayo Basins. Petroamerica's shares are listed on the TSX Venture Exchange under the symbol "PTA".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Petroamerica Oil Corp.