TORONTO, Sept. 18, 2015 /CNW/ - SQI Diagnostics Inc. ("SQI Diagnostics" or the "Company") (TSX-V: SQD; OTCQX: SQIDF), a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics, today announced that effective September 16, 2015, they have granted 340,000 stock options of which 200,000 has been granted to certain officers and directors. Independent directors did not receive options in this grant.
The options were granted at an exercise price of $0.42. Pursuant to the previously approved stock option plan, the options have a term of 5 years and vest over a 24 month period. Following the grant of these options there will be 2,422,000 options outstanding. Twelve months from the date of this grant 420,000 currently outstanding options will have expired. There are currently 61,716,000 common shares outstanding.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company's proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more information, please visit www.sqidiagnostics.com.
This press release contains certain words and statements, which may constitute "forward-looking statements" within the meaning of applicable securities laws. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties detailed in the Company's ongoing filings with the securities regulatory authorities, available to the public at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
Neither 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 release.
SOURCE SQI Diagnostics Inc.
For further information: Chief Executive Officer, Andrew Morris, 416.674.9500 ext. 229, firstname.lastname@example.org; Chief Financial Officer, Lennie Ryer, 416.674.9500 ext. 241, email@example.com