Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

August 29, 2007 17:07 ET

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

CALGARY, ALBERTA--(Marketwire - Aug. 29, 2007) - Cell-Loc Location Technologies Inc. (TSX VENTURE:LTI) ("CLTI") today reported the grant of incentive stock options ("options") to officers and employees of the Company, to purchase a total of 1,500,000 common shares at a price of $0.16 per share, based on the closing price of the stock on Tuesday, August 28, 2007. These options are granted to employees and officers as compensation in lieu of salary increases. All of these options vest over two years; one third of the options shall be vested immediately, one third on the one-year anniversary and the remaining one third on the two-year anniversary. 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 May 31, 2006.

About Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc. (www.cell-loc.com) is the developer of a family of network-based wireless location products that enable location-based services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and supports its patented wireless location technology in North and South America and Asia, with a view to expanding globally. Cell-Loc is listed on the TSX Venture Exchange under the trading symbol: "LTI."

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Contact Information

  • Cell-Loc Location Technologies Inc.
    Dave Guebert
    Vice President, Finance and CFO
    (403) 569-5700