TRADING SYMBOL: RLX and RLX.A (TSXV)
CALGARY, April 15 /CNW/ - Realex Properties Corp. ("Realex") is pleased
to announce that in connection with the appointment of Mr. Tom Heslip as
President and Chief Executive Officer of Realex effective April 6, 2009, Mr.
Heslip was granted options to purchase 500,000 common shares and 500,000
non-voting shares of Realex at $0.40 per share. These options vest over three
years and will expire on April 6, 2014.
Mr. Heslip will also purchase $200,000 of common shares and $200,000 of
non-voting shares of Realex. The common shares and non-voting shares to be
issued in respect of the total amount of $400,000 will be issued at a price
equal to the weighted average five day trading price per common share and
non-voting share (as the case may be) to the date prior to the date of
purchase and shall be subject to the rules, policies, restrictions and
regulations of the TSX Venture Exchange. It is expected that the shares will
be purchased after the release of the second quarter results of Realex. Realex
will provide Mr. Heslip with a five year, interest-free loan in the amount of
$200,000 to assist in the purchase of a portion of the above shares of Realex.
In addition, during the 24 month period expiring April 6, 2011, Mr.
Heslip shall have the right, subject always to availability of such shares
under the stock option plan of Realex, to acquire up to a maximum of 2,000,000
shares consisting of an equal number of common shares and non-voting shares of
Realex, issued at the weighted average trading priced over the five days prior
to exercising his right to acquire these shares. This right may be exercised
no more than once within any six month period, subject only to the maximum
amount which may be acquired. Notwithstanding that such shares may be free
from trading restrictions under applicable securities laws, the shares shall
be subject to a one year trading restriction and shall be subject to the
rules, policies, restrictions and regulations of the TSX Venture Exchange.
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: Marc Sardachuk, Executive Vice President,
Realex Properties Corp., Telephone: (403) 213-5541, Facsimile: (403) 264-5892,
Email: email@example.com; Mark Suchan, Chief Financial Officer, Realex
Properties Corp., Telephone: (403) 206-3143, Facsimile: (403) 264-5892, Email: