LAVAL, QC, May 8, 2013 /CNW Telbec/ - Ergoresearch Ltd (TSXV: ERG), the leading orthotics network in Quebec under the Clinique du pied Équilibre, Orthoconcept and Laboratoire Langelier banners, grants stock options to Mr Gilles Laporte. Mr Laporte was elected to the Board of Directors at the last Ergoresearch general shareholder meeting held on December 17 2012.
Mr Laporte is a corporate director who until October 2011 was Chief Vice-President ‒ Business Development at Logibec Groupe Informatique Ltée, a position he occupied since January 2001. He was previously President at Calculus Informatique Ltée, a private computer service provider, and Vice-President of Société d'information Banque Nationale, a subsidiary of the National Bank of Canada.
According to Ergoresearch President and CEO Sylvain Boucher, "Mr Laporte's expertise in business development will prove beneficial in every way. The Company is at a growth inflection point and our strategy, one based on innovation and acquisition, is ambitious. We're surrounding ourselves with the best to ensure Ergoresearch's expansion, health and long-lasting financial success."
By way of resolution and in compliance with the Company's stock option plan, the board of directors has granted 200,000 stock options to Mr Laporte.
The exercise price of the options was set at $0.62 per share. Ergoresearch's closing price on May 07 2013 was $0.62/share. These options must be exercised within 10 years of their grant date, or May 08 2023, and are subject to the provisions of Ergoresearch's stock option plan and in full compliance with TSX Venture Exchange policies.
A total of 5,000,000 stock options are currently available under the Company's stock option plan. The total amount of common shares issued and outstanding is 70,089,340.
The total amount of stock options outstanding granted to Directors and key employees is now at 2,325,000 stock options (at an average exercise price of 0.18$ per share), with 2,450,000 undistributed stock options remaining.
Ergoresearch has developed the most important orthotics network in Québec, with over one hundred clinics and satellite centres flying under the banners of Clinique du pied Équilibre, Orthoconcept and Laboratoire Langelier. Québec's leading manufacturer of "intelligent" foot orthotics and specialty orthotics, it is a trend-setter in creating durable medical equipment and software for the orthopedics market. Through its subsidiary Victhom Human Bionics, it also owns patents in the field of bionics including intellectual property for the Power Knee, the world's only motor-powered prosthesis for above-knee amputees.
Ergoresearch has created and commercialized WebFit™, the first robotized custom-fit orthotics manufacturing software program, launched the first knee osteoarthritis Living Lab in Canada, and a new generation of world-patented orthotic device, the OdrA, that revolutionizes the treatment of pain associated with knee osteoarthritis. Ergoresearch Ltd is listed on the TSX Venture Exchange (TSXV) under the symbol ERG.
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SOURCE: Ergoresearch Ltd
For further information:
Sylvain Boucher, President and CEO ‒ Ergoresearch Ltd.
450-973-6700, ext. 213 / [email protected]