Ceapro: Issuance of Stock Options
EDMONTON, ALBERTA -- (MARKET WIRE) -- 09/25/07 -- Ceapro Inc. (TSX VENTURE: CZO) ("Ceapro" or the "Corporation") In conjunction with the recent appointments to the Ceapro Board of Gilles Gagnon and Glenn Rourke, Ceapro announces that it will, subject to the approval of the TSX Venture Exchange, issue 150,000 stock options to each of Messrs Gagnon and Rourke. Each of these options, which vest in five equal annual instalments commencing on the date of issue, entitle the holder to acquire one common share upon payment of the exercise price of CAD$0.28, representing the closing price on September 24th Each option, upon vesting but subject to prior termination, is exercisable for a period of five years.
In addition, Ceapro announces that it will, subject to the approval of the TSX Venture Exchange, issue an additional 30,000 stock options to each of Messrs. Taylor, Oborowsky and Zupancic, who are also members of the Board. These options will vest immediately as part of the Director's compensation.
About Ceapro Inc.
Ceapro Technology Inc., Ceapro Veterinary Products Inc., Ceapro Active Ingredients Inc. and Ceapro Bioenergy Inc. are wholly owned subsidiaries of Ceapro Inc., which is a Canadian growth-stage biotechnology company. Our primary business activities relate to the development and commercialization of organic products for medical, cosmetic and animal health industries using proprietary technology and natural, renewable resources. We will be applying our technology to become an active participant in the bioenergy sector. We have also introduced health and wellness services employing our CeaProve® diagnostic technology. Ceapro shares trade on the Canadian TSX Venture Exchange under the symbol CZO. To learn more about Ceapro, visit www.ceapro.com.
This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
The TSX Venture has neither approved nor disapproved of the information contained herein
Contacts: Ceapro Inc. Dr. Mark Redmond President and CEO Edmonton: 780-421-4555 Sun International Communications Nicole Blanchard, B.Sc., B.Comm Managing Partner Montreal: 450-973-6600 nicole.blanchard@isuncomm.com
Released September 25, 2007