BURNABY, BC, Sept. 25, 2014 /CNW/ - Photon Control Inc. (the "Company") (TSX V: PHO), a leading developer of innovative measurement technologies, announces the grant under its Stock Option Plan of stock options to purchase an aggregate of 3,110,000 common shares of the Company at an exercise price of $0.50 per share for a term of 5 years.
The stock options were granted to certain directors, officers and a consultant of the Company and are subject to any necessary regulatory approvals. Options granted will vest as to 25% of the optioned shares on the date of grant and a further 25% will vest every six months thereafter until fully vested.
Photon Control also announces that Gerald Adams was formally appointed to Chief Financial Officer. Mr. Adams has been serving as the Company's Controller since February 2011 and Interim Chief Financial Officer since August 2014.
About Photon Control Inc.
Photon Control Inc. designs, manufactures and distributes a wide range of optical sensors & instruments to measure temperature, pressure, position, and flow. These products are used by original equipment manufacturers (OEM) as well as end-users in the Semiconductor, Oil and Gas, Power, Life Science, and Manufacturing industries. Photon Control's products provide high accuracy and reliability in extreme conditions and are supported by a team of experts that offer onsite installation, training, and support. Photon Control Inc. also provides engineering services for customized optical measurement systems. Headquartered in an ISO 9001:2008 manufacturing facility in Burnaby, BC, Photon Control Inc. is listed on the TSX Venture Exchange, trading under the symbol ''PHO". Additional information about the company can be found at www.photon-control.com/investorrelations.html
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.
SOURCE: Photon Control Inc.
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