/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/
BURLINGTON, ON, Aug. 12 /CNW/ - IPICO Inc. (TSX-V:RFD) announced today that its Board of Directors has resolved to adopt an amended and restated Employee Stock Option Plan in order to, among other things, convert that plan from a 10% 'rolling' plan to a 15% fixed number plan that reserves 9,085,674 common shares for issuance under the plan, inclusive of the 4,055,000 common shares reserved for issuance under options outstanding under the plan at present.
The Board of Directors has also resolved to reduce to $0.10 per share the exercise price applicable to all 4,055,000 options outstanding under the plan at present. The outstanding options were originally granted at exercise prices of between $0.15 and $1.64 per share. Of the outstanding options, 2,375,000 are held by directors and senior officers of IPICO.
The adoption of the amended and restated Employee Stock Option Plan and the reduction of the exercise price applicable to all outstanding options are subject to TSX Venture Exchange Approval and the approval of the shareholders of IPICO.
This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities in any jurisdiction. The Debentures being offered have not been and will not be registered under the United States Securities Act of 1933 and state securities laws. Accordingly, the Debentures may not be offered or sold in the United States except pursuant to applicable exemptions from registration.
ABOUT IPICO Inc. IPICO Inc. is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, and Asia. IPICO produces smart labels, tags and readers based on the IP-X communication protocol. Its products are designed to conform to regulatory requirements in most major geographical regions, to excel at long read range, fast multi-read anti-collision and high thru-beam read-speeds of dynamic tag populations, and to allow for multi-reader rollout in close proximity. IPICO's products are used to optimize the management of products, equipment, people, animals and processes within the logistics and other value chains. For further information, go to www.ipico.com.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE IPICO INC.
For further information: For further information: Gordon Westwater, President & CEO, IPICO Inc., Tel: +1 905-631-6310, Email: firstname.lastname@example.org