TSX Venture Exchange symbol: IBR
VANCOUVER, July 5 /CNW/ - International Bio Recovery Corporation ("IBR") (TSX-V: IBR), a developer and marketer of proprietary technologies for the recovery of organic-based, high-value fertilizer products produced from municipal and agricultural wastes, today announced that it has granted a total of 4,300,000 incentive stock options to directors and an employee of the Company.
The options are broken down into three tranches:
a) 2,200,000 incentive stock options have been granted to directors with
an exercise price of $0.125 per share and will expire on July 5,
2015; these options vest 25% on the grant date and 25% every six
b) 1,400,000 incentive stock options have been granted to Blair
Heffelfinger, Vice-President, with an exercise price of $0.10 per
share and will expire on May 31, 2015; these options vest at 25% each
on September 1, 2010, December 1, 2010, May 31, 2011, and September
c) 700,000 incentive stock options have been granted to Blair
Heffelfinger, Vice-President on varying terms as follows:
i) 250,000 have an exercise price of $1.00 per share, vest on June
1, 2012 and expire on May 31, 2013;
ii) 200,000 have an exercise price of $1.25 per share, vest on June
1, 2013 and expire on May 31, 2014; and
iii) 250,000 have an exercise price of $1.75 per share, vest on June
1, 2013 and expire on May 31, 2014.
These options have been granted under a revised stock option plan (the "Plan") and cannot be exercised until the Plan has been approved by shareholders at the next shareholders' meeting scheduled for December 2010.
Located in North Vancouver, BC, IBR is committed to research and development to continue to improve the efficiency of its technology and the quality of Genica branded fertility products and is further committed to developing a world wide marketing capability to ensure market acceptance of its fertility products.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY OF THIS RELEASE.
SOURCE INTERNATIONAL BIO-RECOVERY CORPORATION
For further information: For further information: please contact IBR at (604) 924-1023 or (604) 924-1043: Henry J. Bow, President and CEO, firstname.lastname@example.org; Bob Nowell, CFO and Corporate Secretary, email@example.com