TORONTO, Jan. 16 /CNW/ - HydraLogic Systems Inc. (TSXV: HLS - OTC Pink
Sheet: HYSYF) ("HydraLogic" or "the Company") today clarified the terms of the
stock option granted to CHF Investor Relations ("CHF") pursuant to its IR
contract effective December 1, 2008, and announced in a news release on
December 4, 2008.
On December 1, 2008, HydraLogic granted options to CHF in the amount of
225,000 options at an exercise price of $0.10 per share and 225,000 options at
an exercise price of $0.30 per; all of which will expire on the earlier of
either December 1, 2011, or upon 30 days after the termination of IR services.
The options are subject to a vesting schedule whereby 33 1/3% vest at
intervals of six months, and 100% being vested at the end of the eighteenth
month following the date of grant.
Management will be meeting with members of the investment community,
brokers and analysts, in Toronto during the first weeks of February, as
coordinated by CHF. Updated investor materials will be available on
www.hydralogic.com at that time.
"It's been some time since we've been out speaking to the investment
community and are encouraged by the preparation and plans CHF has to increase
our visibility," stated Michael Beckley, President and Chief Executive Officer
of HydraLogic Systems Inc. "We will use the opportunity to highlight our
year-over-year improvements in operating efficiency and our plans to bring
significant scale into the business in 2009 emphasizing the introduction of
our mosquito control products in Canada and expanding our international odour
About HydraLogic Systems Inc.
HydraLogic blends proprietary environmental formulations and manufactures
misting systems for product application that together serve the multi-billion
dollar mosquito and odour control sectors in the U.S., Canada and 12 other
countries. Through its Bug DeFence (www.bugdefence.com) and HLS Ecolo
(www.hlsecolo.com) distribution and service businesses, the Company is a
leader in providing profitable revenue-generating platforms applicable to many
markets around the globe. HydraLogic Systems Inc. is listed for trading on the
TSX Venture Exchange - symbol: HLS.
"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."
This press release contains certain "forward-looking statements". These
statements relate to future events or future performance and reflect
expectations and belief regarding growth, results of operations, performance,
business prospects, opportunities or industry performance and trends. These
forward-looking statements reflect current internal projections, expectations
or beliefs and are based on information currently available. A number of
factors could cause actual events or results to differ materially from the
results discussed in the forward-looking statements. Although it is believed
that the forward- looking statements contained in this press release are based
upon reasonable assumptions, investors cannot be assured that actual results
will be consistent with these forward-looking statements. These
forward-looking statements are made as of the date of this press release, and
HydraLogic Systems Inc. assumes no obligation to update or revise them to
reflect new events or circumstances, except as required pursuant to applicable
For further information:
For further information: please visit www.hydralogic.com or contact:
HydraLogic Systems Inc., Michael Beckley, President & CEO, Tel: (705) 735-9535
ext.25, Email: email@example.com; CHF Investor Relations, Jacqueline
Wagenaar, Account Manager, Tel: (416) 868-1079 ext. 289, Email:
firstname.lastname@example.org; To receive Company press releases, please email
email@example.com and mention "HydraLogic News" on the subject line