(i) On October 23, 2007, the Board of Directors of Sofame granted 300,000 options exercisable at a price of $0.17 per common share to Mr. John Gocek pursuant to the terms of his executive employment contract. The market price of the common shares of Sofame at the time of the grant of the foregoing options was $0.15. (ii) On January 28, 2008, the Board of Directors of Sofame granted 300,000 options exercisable at a price of $0.28 per common share to Mr. John Gocek pursuant to the terms of his executive employment contract. The market price of the common shares of Sofame at the time of the grant of the foregoing options was $0.30. (iii) On November 28, 2008, the Board of Directors of Sofame granted an aggregate of 1,176,287 options exercisable at a price of $0.245 per common share to four of the corporation's directors and officers as part of the corporation's compensation structure. The market price of the common shares of Sofame at the time of the grant of the foregoing options was $0.235.
All of the foregoing option grants were previously disclosed by Sofame in its financial statements, and the appropriate insider filings were effected by the individuals receiving the options.
Sofame also announces that, following a standard review of the corporation's continuous disclosure practices by the Autorité des marchés financiers in
About Sofame
Sofame Technologies Inc. custom engineers and manufactures unique, high-efficiency direct-contact industrial hot water systems which extract up to 99 percent of heat from flue gases depending on the application, and return the energy in the form of high-temperature hot water or pre-heated make-up air. Sofame's products help hospitals, food processing plants, universities, central heating plants, utilities and many more large energy consumers to significantly reduce fuel costs and greenhouse gas emissions. Using world-leading, patented green technology, Sofame serves industrial, institutional and commercial markets through a network of dedicated engineering representatives. For more information, visit www.sofame.com.
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.
For further information: Stone Communication Services, Brian Edelstein, (416) 867-2536, [email protected], www.stoneco.com
Share this article