LEVIS, QC, Nov. 30 /CNW Telbec/ - DEQ Systems Corp. (TSX-V: DEQ) ("DEQ" or the "Company"), a leading provider of table game bonusing, jackpot and loyalty solutions, announces today the issuance of 585,000 stock options to board members as part of their annual compensation and 200,000 stock options to some employees in accordance with the stock option plan of the Corporation. Also, the Company's stock option plan has been amended to increase the number of common shares available for stock option grants under the plan from 5,300,000 to 6,500,000 common shares, which represents less than 10% of the issued and outstanding common shares of the Company. The amendment to the stock option plan remains subject to the approval of the TSX Venture Exchange.
A total of 585,000 options were granted to the Board of Directors as follows: Mr. Michael Telesmanic, chairman of the Board, has received 120,000 stock options, Mr. Earle G. Hall has received 65,000 stock options and the other four members each received 100,000 stock options. Each option will confer to its holder the right to subscribe one (1) common share of DEQ Systems Corp. at an exercise price of forty six cents ($0.46) per share. Stock options are fully vested as of the date of grant.
The Board of Directors further approved the issuance of 200,000 stock options to certain employees of the Company. Each option will confer to its holder the right to subscribe one (1) common share of DEQ at an exercise price of forty six cents ($0.46) per share. Employee stock options are vested at 20% per year over 5 years.
Founded in 1998, DEQ Systems Corp. (TSXV: DEQ) is a leader in the table game bonusing technology field. DEQ's patents, products and features include side bet bonusing games with progressive and random jackpot prizes, slot machine style mystery bonusing, multiple credit and denomination betting flexibility, dealer hand betting, electronic credit bank, electronic rake, baccarat hand tracking, multimedia animation and sound effects. DEQ has an extensive patent portfolio that is recognized in more than 50 countries such as the USA, Macau, Australia and Canada. DEQ's bonusing solutions and products are present in more than 200 casinos in over 30 countries. For further information, please visit www.deq.com.
TSX Venture does not accept any responsibility regarding the accuracy of
the information contained in this press release.
Forward-looking statements contained in this Press Release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
SOURCE DEQ SYSTEMS CORP.
For further information: For further information: Earle G. Hall, President & CEO, DEQ Systems Corp., (418) 839-3012, firstname.lastname@example.org; Francois Proulx, Chief Financial Officer, DEQ Systems Corp., (418) 839-3012, email@example.com