Ergoresearch Ltd
TSX VENTURE : ERG

Ergoresearch Ltd

September 09, 2010 15:13 ET

Ergoresearch Expands its Facilities and Grants Stock Options

MONTREAL, QUEBEC--(Marketwire - Sept. 9, 2010) - Ergoresearch Ltd («Ergoresearch») (TSX VENTURE:ERG) announces the relocation of its head office and certain production facilities in Montreal to newer and larger facilities in Laval. It also announces the grant of stock options in favour of its Vice President Finance.

The Company moved its Head Office and certain production facilities from their previous location in Montreal to newer and better adapted facilities in Laval. Since September 2nd, 2010, the Company occupies its new 16,000 square feet premises located at 2101, Le Carrefour Blvd, Suite 200, Laval, Quebec, H7S 2J7. It is expected that an affiliate entity of the Group will share the space with the Company. Other announcements will follow on that issue.

The Board of Directors also granted by way of resolution and in compliance with the Company's stock option plan, 100,000 stock options to its V-P Finance Mrs Isabelle Sauvageau.

An additional 300 000 stock options were allocated to a consultant of the corporation or its subsidiaries and 150 000 stock options, initially issued in 2006, were cancelled. The exercise price of all the options was fixed at $0.11 per share. Ergoresearch's closing price, on September,08, 2010 was $0.11 / share. These options can be exercised at the earliest to arrive of the following dates: 10 years from the date they were granted, or August 31, 2020, subject to the provisions of the stock option plan of Ergoresearch and TSX Venture Exchange policies.

A total of 5 000 000 stock options are available under the Company's stock option plan. The total amount of common shares issued is 59 606 275.

The total amount of stock options currently granted to Directors and key employees is now at 2 125 000 stock option (at an average exercisable price of 0.14$ per share), thus leaving 2 875 000 undistributed stock option.

Ergoresearch Ltd (www.ergorecherche.com) through its subsidiaries (www.cliniquedupiedequilibre.com) and (www.orthoconcept.com), is a leading general and foot orthotics manufacturer as well as being on the leading edge of durable medical equipment development in the orthopaedic industry. The Company owns patented technologies that confer competitive advantages in the industry and relies on its undeniable knowledge of consolidation in the healthcare industry.

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