LAVAL, QC, May 8, 2013 /CNW Telbec/ - Ergoresearch Ltd (TSXV: ERG), the leading orthotics network in Quebec under the Clinique du pied Équilibre, Orthoconcept and Laboratoire Langelier banners, grants stock options to Mr Gilles Laporte. Mr Laporte was
elected to the Board of Directors at the last Ergoresearch general
shareholder meeting held on December 17 2012.
Mr Laporte is a corporate director who until October 2011 was Chief
Vice-President ‒ Business Development at Logibec Groupe Informatique
Ltée, a position he occupied since January 2001. He was previously
President at Calculus Informatique Ltée, a private computer service
provider, and Vice-President of Société d'information Banque Nationale,
a subsidiary of the National Bank of Canada.
According to Ergoresearch President and CEO Sylvain Boucher, "Mr
Laporte's expertise in business development will prove beneficial in
every way. The Company is at a growth inflection point and our
strategy, one based on innovation and acquisition, is ambitious. We're
surrounding ourselves with the best to ensure Ergoresearch's expansion,
health and long-lasting financial success."
By way of resolution and in compliance with the Company's stock option
plan, the board of directors has granted 200,000 stock options to Mr
The exercise price of the options was set at $0.62 per share.
Ergoresearch's closing price on May 07 2013 was $0.62/share. These
options must be exercised within 10 years of their grant date, or May
08 2023, and are subject to the provisions of Ergoresearch's stock
option plan and in full compliance with TSX Venture Exchange policies.
A total of 5,000,000 stock options are currently available under the
Company's stock option plan. The total amount of common shares issued
and outstanding is 70,089,340.
The total amount of stock options outstanding granted to Directors and
key employees is now at 2,325,000 stock options (at an average exercise
price of 0.18$ per share), with 2,450,000 undistributed stock options
Ergoresearch has developed the most important orthotics network in Québec, with over
one hundred clinics and satellite centres flying under the banners of Clinique du pied Équilibre, Orthoconcept and Laboratoire Langelier. Québec's leading manufacturer of "intelligent" foot orthotics and
specialty orthotics, it is a trend-setter in creating durable medical
equipment and software for the orthopedics market. Through its
subsidiary Victhom Human Bionics, it also owns patents in the field of bionics including intellectual
property for the Power Knee, the world's only motor-powered prosthesis for above-knee amputees.
Ergoresearch has created and commercialized WebFit™, the first robotized custom-fit orthotics manufacturing software
program, launched the first knee osteoarthritis Living Lab in Canada, and a new generation of world-patented orthotic device, the OdrA, that revolutionizes the treatment of pain associated with knee
osteoarthritis. Ergoresearch Ltd is listed on the TSX Venture Exchange
(TSXV) under the symbol ERG.
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Exchange. TMX Group and its affiliates do not endorse or recommend the
referenced securities. Please seek professional advice to evaluate
Certain statements in this Press Release contain forward-looking
statements and information that may entail certain risks related to
uncertainties. Such statements are based on management's expectations
and no assurance can be given that potential future results or
circumstances described in the forward looking statements will be
achieved or will occur. Such risks factors include, but are not limited
to, those related to the Corporation's ability to finance its
activities, competition, ability to negotiate and maintain
partnerships, the market acceptance of the said product, fluctuations
in operating results, the impact of general economics, industry and
market conditions, the ability to recruit and retain qualified
employees, the success of research and development programs,
fluctuations in cash flow, expectations regarding market demand for
particular products, the strength of intellectual property, market
dependence on new product development, the trust invested in
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SOURCE: Ergoresearch Ltd
For further information:
Sylvain Boucher, President and CEO ‒ Ergoresearch Ltd.
450-973-6700, ext. 213 / email@example.com