SOURCE: Critical Outcome Technologies Inc. (COTI)

Critical Outcome Technologies Inc. (COTI)

October 19, 2015 09:36 ET

Critical Outcome Technologies Awards Stock Options

LONDON, ON--(Marketwired - October 19, 2015) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE: COT)(OTCQB: COTQF), announced today that 1,851,613 stock options were awarded to directors and employees under the Company’s Stock Option Plan on October 15, 2015. The options awarded to directors were made as a retainer for their service on the Board and its committees for the upcoming year. The options were awarded to employees on a discretionary, meritorious basis for their efforts during the prior year. The options have a five year life with 25% vesting occurring at the end of each quarter from the grant date during the first year of the grant. The exercise price is $0.305 and represents the closing price of the Company's common shares on the TSX Venture Exchange on October 14, 2015, the last trading day prior to the grant date.

“Compensating the Board of Directors with stock options for their service is consistent with our past practice and demonstrates the directors’ belief and commitment to the Company’s future,” said Company Chairman, John Drake. “In keeping with this philosophy, the Board made no changes to the compensation program approach in place during the past year.”

About Critical Outcome Technologies Inc. (COTI)

COTI is a biopharmaceutical company advancing the treatment of cancer through targeted therapeutics. The Company’s lead compound, COTI-2, has a novel p53-dependent mechanism of action with selective and potent anti-cancer activity. The initial indication is in gynecologic cancers (ovarian, cervical and endometrial) and a Phase 1 clinical trial is expected to begin at MD Anderson Cancer Center in the fall of 2015. The Company has secured orphan drug status for the ovarian indication in the U.S. and is planning additional studies in other indications such as head & neck, AML and Li-Fraumeni as well as combination therapies with other leading cancer drugs. Pre-clinical data provides evidence to suggest a potentially dramatic change in the treatment of cancers with mutations of the p53 gene.

Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information