Vigil Technology Locating Systems Inc.

May 16, 2006 19:03 ET

Vigil Locating Systems Corporation Grants Stock Options

MONTREAL, QUEBEC--(CCNMatthews - May 16, 2006) - The board of directors of Vigil Locating Systems Corporation (hereinafter "Vigil"), (TSX VENTURE:VIG) has authorized on May 15, 2006 the grant of stock options in favour of its officers, employees in accordance with the stock option plan adopted. According to the resolutions adopted, the 475,000 stock options granted were allocated as follow:

Officers: 375,000
Employees 100,000

These options can be exercised up until May 14, 2011. The exercise price of all the options was fixed at $0.12 per share.

The related stock option agreement shall be legended as follows: "Without prior written approval of the TSX Venture Exchange and compliance with all applicable securities legislation, the securities represented by this certificate, and, as applicable, any underlying securities that may be obtained upon the conversion, exercise of the securities represented by this certificate, may not be sold, transferred, hypothecated or otherwise traded on through the facilities of the TSX Venture Exchange of otherwise in Canada or to or for the benefit of a Canadian resident until September 15, 2006." in accordance with the TSX Venture

Exchange Corporate Finance Manual.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Vigil Locating Systems Corporation
    Mr. Michel Lesage
    Secretary and Treasurer
    (514) 394-3444 ext. 225