H2O Innovation Amends its Stock Option Plan and Grants Stock Options
November 27 2009 - 4:20PM
Marketwired
H2O Innovation Inc. ("H2O Innovation" or the "Company")(TSX
VENTURE: HEO)(ALTERNEXT: MNEMO:ALHEO), a complete water treatment
solutions company providing custom designed water treatment systems
along with operating and maintenance solutions, announces the
amendment of its stock option plan and the grant of stock options
to certain members of its Board of Directors.
The Company's stock option plan has been amended to, among
others, (i) increase the number of common shares available in the
plan from 3.4 million to 5.5 million shares, which represents
approximately 10% of the issued and outstanding common shares of
the Company; (ii) increase the maximum term of stock options from 5
to 10 years; (iii) increase the vesting period from 18 months to 24
months; and (iv) update the general terms and conditions of the
former stock option plan in light of the recent changes to the
applicable securities legislation and to the policies of the TSX
Venture Exchange. The amended stock option plan remains subject to
the approval of the TSX Venture Exchange.
Furthermore, the Company wishes to announce that a total of
205,000 stock options were granted today to its five independent
directors, the whole pursuant to the terms and conditions of the
Company's newly amended stock option plan. Each stock option
entitles its holder the right to acquire one common share of the
Company at a price of $0.75 before November 27, 2019.
About H2O Innovation
Exclusively dedicated to water treatment, H2O Innovation is
establishing itself as a key player in sustainable development and
the field of clean technologies. H2O Innovation designs, develops,
produces, and integrates state-of-the-art custom-built water
treatment systems for the production of drinking water, the
reclamation of water, the treatment of wastewater and industrial
process water in the municipal, commercial, industrial, mining, and
energy markets. Additionally, the Company offers complete operating
and maintenance solutions for membrane filtration and reverse
osmosis systems. H2O Innovation has approximately 100 employees and
eight offices including three manufacturing and assembly plants in
Canada and the United States. Shares of H2O Innovation are listed
on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext
Alternext Exchange (MNEMO: ALHEO). For more information about H2O
Innovation, visit the Company's website at
www.h2oinnovation.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) nor the Alternext Exchange accepts responsibility
for the adequacy or accuracy of this release.
Contacts: H2O Innovation Inc. Guillaume Ducharme 418-688-0170
ext. 329 guillaume.ducharme@h2oinnovation.com Source: H2O
Innovation Inc. www.h2oinnovation.com
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