Cell-Loc Location Technologies Inc.

Cell-Loc Location Technologies Inc.

August 08, 2005 08:00 ET

Cell-Loc Location Technologies Announces Grant of Incentive Stock Options

CALGARY, ALBERTA--(CCNMatthews - Aug. 8, 2005) - 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 1,047,000 common shares at a price of $0.17 per share, based on the closing price of the stock on Wednesday, August 3, 2005 (the "grant date"). Of the options being granted, 300,000 have been allotted to officers of the Company. In addition, options to purchase 150,000 shares were granted to a director of the Company at a price of $0.185 per share. All of the options granted on Wednesday, August 3, 2005 vest within two years; one third of the options shall be vested immediately, one third upon successful completion of the audit of the network in Sao Paulo, Brazil and the remaining one third upon installation of 60,000 commercial beacons in the Sao Paulo network. 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 December 1, 2003.

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