Questerre reports option exercise and annual grant of stock options to directors and employees

29 Jan 2025 00:25 CET

Questerre Energy Corporation ("Questerre" or the "Company") reported that
members of the Board and Management exercised for cash a total of 5,975,000
stock options with an exercise price of C$0.20 per common share expiring on
February 3, 2025. The exercise was made concurrent with the payment of C$0.18
million in aggregate as detailed below by the Company to these individuals. No
common shares were issued in connection with the exercise of these options.

Options Exercised Payment (C$)
Directors
Bjorn Tonnessen Chairman 250,000 7,500
Dennis Sykora Director 150,000 4,500
Hans Holden Director 150,000 4,500

Management
Michael Binnion CEO 1,500,000 45,000
John Brodylo VP Exploration 750,000 22,500
Peter Coldham VP Engineering 750,000 22,500
Jason D'Silva CFO 1,000,000 30,000
Dana Shepherdson Controller 500,000 15,000
Rick Tityk VP Land 750,000 22,500

Staff 175,000 5,250

Total 5,975,000 179,250

Subsequently, at its annually scheduled Board meeting, which included an
evaluation of overall compensation, the Company has granted directors, officers
and employees a total of 6,675,000 options to acquire Common Shares at a price
of C$0.23 per Common Share on January 27, 2025. The exercise price is determined
as the closing price on TSX the day prior to the grant. The options will expire
on January 26, 2030.

Current Granted Total
Directors
Bjorn Inge Tonnessen 1,400,000 250,000 1,650,000
Mireille Fontaine 1,130,000 150,000 1,280,000
Dennis Sykora 880,000 150,000 1,030,000
Hans Jacob Holden 880,000 150,000 1,030,000
Jauvonne Kitto 250,000 150,000 400,000

Management
Michael Binnion 7,020,000 1,500,000 8,520,000
John Brodylo 3,510,000 750,000 4,260,000
Peter Coldham 3,510,000 750,000 4,260,000
Jason D'Silva 5,060,000 1,000,000 6,060,000
Dana Shepherdson 3,310,000 500,000 3,810,000
Rick Tityk 3,510,000 750,000 4,260,000

Staff 1,860,000 575,000 2,435,000

Total 32,320,000 6,675,000 38,995,000

We seek Safe Harbour.

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