Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

March 17, 2011 17:52 ET

Cell-Loc Location Technologies Announces Grant of Incentive Stock Options to Directors, Officers and Employees

CALGARY, ALBERTA--(Marketwire - March 17, 2011) - Cell-Loc Location Technologies Inc. (TSX VENTURE:XCT) ("CLTI") today reported the annual grant of incentive stock options ("options") to officers, directors and employees of the Company, to purchase a total of 1,020,000 common shares at a price of $0.13 per share, based on the closing price of the stock on March 16, 2011. All of the options granted on March 17, 2011 (the "grant date") vest over two years; one third of the options shall be vested immediately, one third on the one-year anniversary of the grant date and the remaining one third on the two-year anniversary of the grant date. Vested options can be exercised at any time during the five-year period following the grant date. These options are granted under the Company's stock option plan approved by shareholders on June 29, 2010.

About Cell-Loc Location Technologies Inc.

Cell-Loc is an intellectual property company that has a proprietary technology designed for deployment of wireless data transmission and location based services. The Company has installed a commercial network in São Paulo, Brazil where its technology is being deployed for stolen vehicle recovery services within that network. Cell-Loc is currently in the engineering design and development phase whereby its technology will be deployed for telemetry markets that can be serviced by an existing network or customized as a stand-alone low cost line of sight network application.

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Contact Information

  • Cell-Loc Location Technologies Inc.
    Keith Bohn
    Interim CEO
    Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President Finance & CFO