Semcan Inc.
TSX VENTURE : STT

Semcan Inc.

November 01, 2007 12:14 ET

SEMCAN Inc. Announces Stock Option Grants

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2007) - SEMCAN Inc. (TSX VENTURE:STT) ("SEMCAN") announces that SEMCAN has granted 1,085,000 Options to employees, and officers of SEMCAN and its operating subsidiaries, subject to regulatory approval. The Options will be exercisable for a period of five years at an exercise price of $1.11 per share.

Chairman Phil Jamieson, commenting on the grant of the Options said: "Options are an integral part of our compensation strategy to hire and retain the best people in the industry. Options granted to members of our staff vest over time and are subject to the achievement of performance targets. Competition for qualified engineers is fierce, particularly in western Canada. These Options ensure that we will retain our key people as they continue to meet the increased workload currently being enjoyed by the Engineering and Design Division."

About SEMCAN

SEMCAN is a growth company expanding through acquisitions within the Industrial and Distribution sectors. SEMCAN seeks out well managed profitable companies that meet certain financial parameters. SEMCAN works with existing management to grow the acquired companies both organically and through further complementary acquisitions. SEMCAN provides the central finance and administrative functions, allowing operational management to remain focused on bottom line profitability thereby increasing shareholder value.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.

Contact Information

  • Semcan Inc.
    Phil Jamieson
    Chairman
    (416) 703-1692 x 221