H2O Innovation Announces Election of Board of Directors, Grants Stock Options
QUEBEC CITY, Nov. 10, 2010 /CNW Telbec/ - H2O Innovation Inc. (TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO) ("H2O Innovation" or the "Company) a complete water treatment solutions company providing custom designed water treatment systems along with operating and maintenance solutions, today held its Annual General Meeting of Shareholders at the Café-spectacles of the Palais Montcalm in Quebec City, Canada.
Shareholders re-elected the following directors to the Company's Board of Directors: Philippe Gervais, Chairman of the Board, Frédéric Dugré, President and CEO, John G. Booth, André Duquenne, Lisa Henthorne, Élaine C. Phénix, and Richard Hoel. Mr. Lawrence Gamst, CPA, was also elected as director of the Company. The election of Mr. Gamst increases the size of H2O Innovation's Board of Directors to eight directors, of which seven are external directors and six independent.
During the meeting, shareholders also appointed PricewaterhouseCoopers LLP/s.r.l./s.e.n.c.r.l., Chartered Accountants, as auditors of the Company for the fiscal year ending June 30, 2011.
The Company also announces that a total of 290,000 stock options were granted today to its seven external directors, the whole pursuant to the terms and conditions of the Company's stock option plan. Each stock option entitles its holder to acquire one common share of the Company at a price of $0.50 before November 10, 2020.
About H2O Innovation
Building on 10 years of experience, H2O Innovation designs, manufactures, and integrates state-of-the-art custom-built water treatment systems for the production of drinking water, the reclamation of water, the treatment of wastewater and industrial process water in the municipal, commercial, industrial, oil & gas, mining, and energy markets. Additionally, the Company offers complete operating and maintenance solutions for membrane filtration and reverse osmosis systems. H2O Innovation has approximately 100 employees and eight offices including three manufacturing plants in Canada and the United States and is a founding partner of H2O Innovation India, a joint venture based in Mumbai, India. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext Alternext Exchange (MNEMO: ALHEO). For more, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
For further information:
H2O Innovation Inc.
Guillaume Ducharme
+1 418-928-0234
[email protected]
www.h2oinnovation.com
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