BURLINGTON, ON, June 27 /CNW/ - IPICO Inc. (TSX-V:RFD) announced today
the grant under its Employee Stock Option Plan to Mel Steinke, Executive
Chairman of IPICO, of options to purchase up to 50,000 common shares of IPICO
at an exercise price of $1.20 per share, vesting immediately. Mr. Steinke has
been a member of the board of directors since its inception and has been
Executive Chairman since January 1, 2007. At the same time, IPICO also amended
the terms of Mr. Steinke's outstanding share purchase loan in order to provide
for the acceleration in certain events of the repayment in full of the
outstanding balance of that five year term loan.
ABOUT IPICO Inc.: IPICO Inc. is an RFID solution supplier with operations
in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart
labels and tags based on the IP-X communication protocol. IPICO's low
interference readers are designed to meet regulatory requirements in many
major markets, and allow for multi-reader rollout in close proximity. IPICO's
low cost RFID products excel at long read range, fast multi-read
anti-collision and high thru-beam read-speeds of dynamic tag populations.
These products are used to optimize the management of items, people, animals
and processes within the logistic supply chain and other value chains. For
further information, go to www.ipico.com.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR THE ACCURACY OF THIS RELEASE.
For further information:
For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310 Email: firstname.lastname@example.org; Ted Irwin, Chief Financial
Officer, IPICO Inc., Tel: (905) 631-6310, Email: email@example.com