Divestco Inc.

Divestco Inc.

July 11, 2005 19:08 ET

Divestco Inc. Announces Granting of Stock Options

CALGARY, ALBERTA--(CCNMatthews - July 11, 2005) - Divestco Inc. (TSX VENTURE:DVT) ("Divestco") announces that pursuant to the stock option plan of Divestco, it has granted stock options to acquire up to an aggregate of 153,200 common shares of Divestco, including options to acquire 110,000 common shares to officers. The options are for a five year term, expiring on July 11, 2010, and are exercisable at a price of $1.69 per share pursuant to a vesting schedule of one-third upon the date of grant (the "Grant Date"), one-third following the first anniversary of the Grant Date and the remaining one-third following the second anniversary of the Grant Date.

Divestco was formed on September 23, 2003 as a result of the amalgamation of International Datashare Corporation and Divestco.com Inc. Divestco is actively involved in the North American oil and gas software and services industry, and markets over 20 separate software applications that are widely used in both North America and International marketplaces. The Company also operates a significant database containing information relevant to oil and gas exploration. Additionally, Divestco has an expanding seismic data library and is the largest broker of seismic data in Canada.

The TSX Venture Exchange has not reviewed nor accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Divestco Inc.
    Mr. Stephen Popadynetz
    Chief Executive Officer
    (403) 218-6466
    Divestco Inc.
    Mr. Roderick Chisholm
    Chief Financial Officer
    (403) 218-6450
    Website: www.divestco.com