Icefloe Technologies Inc.
TSX VENTURE : ICY

Icefloe Technologies Inc.

June 05, 2006 17:20 ET

Icefloe Technologies Inc.: 2006 Stock Options Granted to Officers and Directors

MISSISSAUGA, ONTARIO--(CCNMatthews - June 5, 2006) - icefloe Technologies Inc. (TSX VENTURE:ICY) has granted a total of 205,000 options to purchase common shares in the capital of the Corporation to its employees, officers and directors at an exercise price of $0.60 per share in accordance with the terms and conditions of icefloe's Employee Stock Option Plan. The options will vest over a three-year period from the date of grant.

The total number of options granted includes the following grants to officers and directors of icefloe:



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Name Number of Options Granted
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Philip Carter 36,000
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David Elliott 36,000
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Michael Gerrior 10,000
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Whit Tucker 10,000
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J. Robert Furse 14,000
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Marc J. Bourgault 10,000
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ABOUT ICEFLOE TECHNOLOGIES INC.

Founded in March 2001, icefloe (TSX Venture Exchange:ICY) is a Canadian- based company dedicated to the development and commercialization of its proprietary chilling technology which brings flash chilling capability in a portable form and enables the beverage industry to serve ice cold draft beer without excessive foam loss, anytime and anywhere. Since April 2001, icefloe has focused its efforts on securing patents for its platform technologies, while developing, field-testing, manufacturing and marketing commercial products using its unique technologies. Its wholly owned subsidiary, Draught Guys Inc., provides installation, sales and service for both traditional draft systems and icefloe's proprietary products in the Ontario market.

icefloe commenced trading on Tier 2 of the TSX Venture Exchange on April 14, 2004 under the symbol "ICY".

For more information about icefloe, please visit the company website at www.icefloe.com.

Certain information included in this press release is forward-looking and may involve risks and uncertainties. The results or events predicted in these statements may differ materially from actual results or events. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with Icefloe's growth, the development of the beverage market, regulatory risks, intellectual property infringement and other factors. Unless otherwise required by applicable securities laws, Icefloe disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. More detailed information about potential factors that could affect icefloe's financial and business results is included in public documents icefloe files from time to time with Canadian securities regulatory authorities.

No Securities Commission or other regulatory authority having jurisdiction over Icefloe has approved or disapproved of the information contained herein.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Icefloe Technologies Inc.
    Wayne Newson
    President and CEO
    (905) 712-7777
    (905) 712-2826 (FAX)
    wnewson@icefloe.com
    or
    Icefloe Technologies Inc.
    David Elliott
    Executive Vice President and CFO
    (905) 712-7777
    (905) 712-2826 (FAX)
    delliott@icefloe.com