TORONTO, Sept. 10 /CNW/ - HydraLogic Systems Inc. ("HydraLogic" or the
"Company") (TSX.V: HLS) a leading mosquito and odour control company announced
today that effective September 6, 2007, the TSX Venture Exchange (the
"Exchange") has accepted for filing the Company's annual renewal of its
Rolling 10% Stock Option Plan (the "Plan"), which was approved by the
Company's shareholders at the Annual General Meeting held on June 28, 2007.
Pursuant to the shareholder resolution voted on at the Annual General
Meeting, the Plan was changed from a fixed Plan to a 10% Rolling Plan. As a
result of the change the Company can issue Stock Options up to 10% of the
issued and outstanding common shares of the Company as compared to the fixed
amount of 2,500,000 under the previous Plan.
As a rolling 10% Plan, the Company will need to obtain yearly shareholder
approval at the Annual General Meeting and acceptance by the Exchange.
About HydraLogic Systems:
HydraLogic is an innovator of engineered misting systems and proprietary
environmental chemistries with reoccurring revenue distribution platforms. The
company strives to be market leaders in providing technologies, though turn
key distribution and service models into the multi-billion dollar mosquito and
odour control industries as Bug DeFence and HLS Ecolo respectively.
HydraLogic Systems is traded on the TSX Venture exchange - symbol: HLS.
Forward Looking Statements
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
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Glen Akselrod, Bristol Capital Ltd., (905)