OTTAWA, Oct. 11, 2013 /CNW/ - BluMetric Environmental Inc. (TSX-V: BLM; "BluMetric" or the "Company") announces that it has granted a total of options for 1,724,400 common shares, comprising options for 263,750 common shares to directors of the Company, options for 252,500 common shares to officers of the Company, and the balance to employees and consultants of the Company. The options vest over three years, and are exercisable into common shares of BluMetric at a price of $0.50 per share for a period of five years.
BluMetric currently has 25,191,656 common shares issued and outstanding, and under the Company's Employee Share Option Plan a maximum of 3,200,000 common shares are available to be issued pursuant to the exercise of options at this time. Including this grant of options for 1,724,400 common shares, a total of 2,180,900 common shares have been reserved for issuance pursuant to outstanding option grants. There are 1,019,100 common shares remaining available for issuance at this time with respect to future option grants.
BluMetric is an integrated product and service organization providing sustainable solutions to complex environmental issues in Canada and abroad. The Company serves clients in many industrial sectors, and at all levels of government, both domestically and internationally.
BluMetric operates through two divisions:
a professional services division focussed on environmental earth
sciences and engineering, contaminated site remediation, water resource
management, industrial hygiene, occupational health & safety, and
renewable energy. This division operates under the names "WESA",
"Envir-Eau", and "OEL-HydroSys"
- a water division providing both design-build and pre-engineered product solutions to clients' water and wastewater treatment needs. This division operates under the names "WESAtech" and "Seprotech".
More information can be obtained at www.blumetric.ca
Neither 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 release. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
SOURCE BluMetric Environmental Inc.