Realex Properties Corp. announces cancelation and re-grant of options to non-insiders



    TRADING SYMBOL: RLX and RLX.A (TSXV)

    CALGARY, June 15 /CNW/ - Realex Properties Corp. ("Realex") is pleased to
announce that effective May 14, 2009 the Board of Directors has approved the
cancelation and re-grant of certain options issued under its option plan such
that specific non-insiders (excluding directors and officers) can have their
previously granted options ("Prior Options") cancelled and, in exchange, be
granted new options. The number of new options granted will be 40% of the
Prior Options granted. Each new option provides the holder the ability to
purchase a non-voting share of Realex at $0.50 per share. These new options
vest over three years commencing January 1, 2009 and will expire on May 14,
2014. The Prior Options granted allowed the holder to acquire a non-voting
share at an exercise price of $1.434 and expired from October 3, 2011 to
August 14, 2013. Up to 469,100 new options will be issued for the outstanding
1,172,750 Prior Options.

    
    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this news release. Neither the 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 news release.
    

    This news release contains forward looking statements subject to various
significant risks and uncertainties which may cause actual results,
performances and achievements of Realex to be materially different from any
future results, performances or achievements, expressed or implied by such
forward looking statements. Realex cannot assure investors that actual results
will be consistent with these forward looking statements and Realex assumes no
obligation to update or revise them to reflect new events or circumstances.




For further information:

For further information: Tom Heslip, President and Chief Executive
Officer, Realex Properties Corp., Telephone: (403) 206-3149, Facsimile: (403)
264-5892, Email: tomheslip@realex.org; Mark Suchan, Chief Financial Officer,
Realex Properties Corp., Telephone: (403) 206-3143, Facsimile: (403) 264-5892,
Email: msuchan@realex.org

Organization Profile

REALEX PROPERTIES CORP.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890