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VANCOUVER, April 22, 2015 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) (the "Company") announces stock option grants approved by the Board of Directors.
The Company has granted stock options to three independent contractors and three of its officers, one of whom is a director of the Company, to acquire an aggregate total of 4,470,000 common shares of the Company. The options will entitle the grantees to purchase common shares of the Company at a price of CDN$0.05 per share for a term of five years from the date of grant. Twenty-five percent of the options will vest on the date of grant and the balance will vest in three equal installments, each as to another twenty-five percent, every six months thereafter. The grants are subject to the approval of the TSXV Venture Exchange.
Smartcool Systems Inc. (TSXV: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world. The ECO3 and ESM are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems by 15% to 20%, giving a return on investment in 12 to 36 months.
On behalf of Smartcool Systems Inc.
George Burnes, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE SmartCool Systems Inc.