TORONTO, ONTARIO -- (MARKETWIRE) -- Aug 24, 2012
ENGINEERING.com Incorporated (TSX VENTURE
), developer of the ENGINEERING.com online resource for engineers, announces that on August 21, 2012 its Board of Directors approved the grant of an aggregate of 200,000 incentive stock options, of which 100,000 were granted to John Scullion, a recently elected director of the Company. The remaining options were granted to an employee of the Company. The options carry an exercise price of $0.10 per common share and will vest in stages, with 25% vesting immediately and a further 25% vesting on each anniversary of the grant date until fully vested. The options are exercisable according to the terms of the Company's stock option plan and will expire five years from the grant date.
Common shares issued upon the exercise of the options will be subject to a four-month hold period from the original grant date in accordance with the policies of the TSX Venture Exchange and applicable securities legislation.
About ENGINEERING.com Incorporated
ENGINEERING.com Incorporated (TSX VENTURE:
EGN) is the developer-owner of the
www.ENGINEERING.com Web site and business. ENGINEERING.com offers marketing services to manufacturers, design consultants and engineering academia around the world. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
President & CFO
905-273-9991, ext. 3280 or Toll Free: 1-877-997-9917