Seprotech Grants Stock Options
December 11 2011 - 6:35AM
PR Newswire (Canada)
OTTAWA, Dec. 13, 2011 /CNW/ - Seprotech Systems Incorporated
announces that it has granted a total of 1,600,000 stock options,
comprising 100,000 options to a director, and the balance to the
Company's new CEO. The stock options vest over three years, and are
exercisable into common shares of Seprotech at a price of $0.10 per
share for a period of five years. Seprotech currently has
62,921,926 common shares issued and outstanding, and under the
Company's Employee Share Option Plan a maximum of 7,000,000 common
shares are available to be issued pursuant to the exercise of
options at this time. Including this grant of 1,600,000 options, a
total of 6,605,000 common shares have been reserved for issuance
pursuant to outstanding option grants. There are 305,000 shares
remaining available for issuance at this time with respect to
future option grants. About Seprotech: Seprotech is a provider of
pre-engineered water and wastewater treatment solutions to the
municipal/land development, resource sector and military market
place, including Reverse Osmosis water purification systems,
ROTORDISK® biological sewage treatment package plants and
CrystalBlue™ membrane-based water recycling systems. Neither 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. The
TSX Venture Exchange has neither approved nor disapproved of the
information contained herein. Seprotech Systems Incorporated
CONTACT: Mr. Ian W. Malone, CFO Tel: (613) 523-1641 Fax: (613)
731-0851
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