Bri-Chem Corp announces repricing of employee stock options

TSX Venture Exchange

Symbol "BRY"

EDMONTON, July 13 /CNW/ - Bri-Chem Corp. ("Bri-Chem") (TSX Venture Exchange: BRY) a leading Canadian wholesale distributor of industrial drilling fluids, steel products and services, today announced the repricing of 335,000 stock options for company employees, excluding members of the Board of Directors and Executive. Bri-Chem received approval of the TSX Venture Exchange (the "TSX-V"), on outstanding stock options for the purchase of an aggregate of 335,000 common shares of Bri-Chem having exercise prices between $1.50 and $2.10 per share, with different expiry terms have been repriced to the exercise price of $1.12, subject to a four month resale restriction.

About Bri-Chem

Bri-Chem is a wholesale distributor of industrial drilling fluid supplies and steel products and services to the oil and gas and construction industries. Bri-Chem provides over 150 domestic and foreign drilling fluid products to customers throughout Alberta, British Columbia and Saskatchewan and distributes carbon steel welded pipe, carbon steel seamless pipe, stainless steel welded pipe, stainless steel seamless pipe, tubing & casing, sucker rods, galvanized steel products as well as fittings and flanges. Bri-Chem's customers operate in a wide range of industries, including oil & gas, manufacturing, forestry, agriculture, construction, and mining.

Forward Looking Statements

Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Bri-Chem to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, fluctuations in oil and gas activity levels, political and economic conditions, and the demand for products provided by Bri-Chem.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

SOURCE BRI-CHEM CORP.

For further information: For further information: Don Caron, T: (780) 420-6885, F: (780) 496-9172, dcaron@wacapital.com

Organization Profile

BRI-CHEM CORP.

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