Tornado Global Hydrovacs Announces Stock Option Grants
August 31 2023 - 5:08PM
Tornado Global Hydrovacs Ltd. (“
Tornado”, the
“
Company”, “we” or “us”)
(TSX-V: TGH ;
OTCQX: TGHLF) announces that pursuant to the terms of its
stock option plan, as amended, it granted incentive stock options
for the purchase of up to 5,300,000 common shares of the Company
effective August 31, 2023. 4,200,000 of the stock options were
granted to directors and officers and 1,100,000 were granted to
certain key employees. Such stock options have an exercise price of
$0.51 per share and are subject to the approval of the TSX-V.
About Tornado Global Hydrovacs
Ltd.Tornado is a pioneer and leader in the vacuum truck
industry and has been a choice of oilfield and utility
professionals with over 1,200 hydrovacs sold since 2005. The
Company designs and manufactures hydrovac trucks as well as
provides heavy duty truck maintenance operations in central
Alberta. It sells hydrovac trucks to excavation service providers
in the infrastructure and industrial construction and oil and gas
markets. Hydrovac trucks use high pressure water and vacuum to
safely penetrate and cut soil to expose critical infrastructure for
repair and installation without damage. Hydrovac excavation methods
are quickly becoming a standard in the North America to safely
excavate in urban areas and around critical infrastructure greatly
reducing infrastructure damage and related fatalities. In China,
the Company’s subsidiary is used principally to source certain
parts to the Company’s North America operations.
For more information about Tornado Global
Hydrovacs Ltd., visit www.tornadotrucks.com or contact:
Brett Newton |
President & Chief Executive Officer |
Phone: (587) 802-5070 |
Email: bnewton@tghl.ca |
|
Advisory
Certain statements contained in this news
release constitute forward-looking statements and future oriented
financial information. These statements relate to future events.
All statements other than statements of historical fact are
forward-looking statements or future oriented financial
information. The use of the words “anticipates”, “should”, ‘‘may”,
“expected”, “expects”, “believes” and other words of a similar
nature are intended to identify forward-looking statements or
future oriented financial information. These statements involve
known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those
anticipated in such forward-looking statements or, as applicable,
such future oriented financial information. Although Tornado
believes these statements to be reasonable, no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements included in this news release and the
future oriented financial information included in this news release
should not be unduly relied upon. Such statements include the
statement with respect to the anticipated receipt of TSXV Approval
of the stock options. The forward-looking statements and future
oriented financial information contained in this news release
represent Tornado’s expectations as of the date hereof and are
subject to change after such date. Tornado disclaims any intention
or obligation to update or revise any forward-looking statements
and future oriented financial information whether as a result of
new information, future events or otherwise, except as may be
required by applicable securities regulations.
Neither the Exchange nor its Regulation
Service Provider (as that term is defined in policies of the
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
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