Vigil Health Solutions Inc.
TSX VENTURE : VGL

Vigil Health Solutions Inc.

August 21, 2009 10:47 ET

Vigil Health Solutions Completes 2009 AGM

VICTORIA, BRITISH COLUMBIA--(Marketwire - Aug. 21, 2009) - Vigil Health Solutions Inc. ("Vigil") (TSX VENTURE:VGL) is pleased to announce the completion of its 2009 AGM. Shareholders elected Greg Peet (as Chairman), Troy Griffiths, Harry Jaako, Stephen Martin and Tanner Philp as Directors of Vigil. KPMG LLP was appointed auditors of Vigil. The shareholders also approved an amendment to the Omnibus Plan to increase the number of Common Shares reserved for issuance under the Omnibus Plan to 15,000,000 Common Shares (being approximately 15.0% of the total outstanding Common Shares of the Company).

Following the AGM, Vigil's Board of Directors appointed the remaining officers of the Company and Board Committee members. Troy Griffiths was re-appointed President and Chief Executive Officer, Nicola Chalmers, Chief Financial Officer and Secretary, Jacquie Brennan, Vice President, Operations and Steven Smith, Vice President, Research and Development. Stephen Martin (as Chairman), Greg Peet and Tanner Philp were appointed to the Audit Committee. Harry Jaako (as Chairman), Stephen Martin and Greg Peet were appointed to the Governance and Compensation Committee.

In addition, the Board granted an aggregate amount of 1,732,000 stock options pursuant to Vigil's Omnibus Share Compensation Plan. Of the total, 360,000 options were granted to Directors, these vest 25% on grant and 25% every six months following, a further 960,000 were granted to Officers of the Company, these vest over a 4-year period, in equal quarterly installments, starting 12 months from issue. The remaining 412,000 options were granted to employees under the same vesting terms as the Officers of the Company. These options are exercisable at a price of $0.10 per share and expire August 20, 2014.

Further, the Board granted 475,000 deferred stock units (DSUs) pursuant to Vigil's Omnibus Share Compensation Plan to the Directors of Vigil subject to the approval of the TSX Venture Exchange. The DSUs vest in four equal installments every six months commencing on the grant date and only become exercisable upon ceasing to be a Director of Vigil or, upon a change of control. Each DSU may be settled for one common share, the cash equivalent, or a combination of both. Directors receive no cash or other compensation for their services as a Director outside of the grant of DSUs and options.

After the addition of these options and the DSUs, the Company has an aggregate of 9,761,600 options and stock units outstanding representing 9.8% of shares issued.

About Vigil Health Solutions Inc.

Vigil offers a proprietary technology platform combining software and hardware to provide comprehensive solutions to the expanding aged care market. Vigil has established a growing presence in North America and an international reputation for being on the leading edge of systems design and integration. The Vigil Integrated Care Management System™ (Vigil® System) includes the award-winning Vigil Dementia System, a nurse call system, bed monitoring, resident check in, and the latest development the Vigil Wireless call system. The first to supply dementia specific care technology, Vigil facilitates the highest standard of care for cognitive residents while helping dementia residents enjoy a higher quality of life and greater dignity.

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

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