AgriTec Names New Director, Grants Options
September 24 2009 - 1:44PM
Marketwired Canada
AgriTec Systems, Inc. (TSX VENTURE:AGR) ("AgriTec" or the "Corporation") is
pleased to announce that our Chief Executive Officer Willy Verbrugghe has been
named a Director of the Corporation.
The Corporation also granted options to acquire an aggregate of 700,000 common
shares of AgriTec to Directors of the Corporation exercisable at $.05 per share
to replace options that had previously expired. These options will be issued in
compliance with the Corporation's Stock Option Plan. In addition, as part of its
short term incentive program, the Corporation will issue 200,000 common shares
to Mr. Verbrugghe and 100,000 common shares to Mr. Greg R. Wellen at an ascribed
value of $0.05 per share. The foregoing transactions are subject to receipt of
any required regulatory approvals, including the approval of the TSX Venture
Exchange.
AgriTec is a Houston, Texas based corporation engaged in the pursuit of "clean
tech" business opportunities for the conversion of bio-mass into value added
commodities, and has been issued a number of patents in this regard. The
Corporation's common shares are listed on the TSX Venture Exchange under the
trading symbol "AGR". For further information please contact:
Agritec Systems Inc. (TSXV:AGR)
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