Eurocontrol Technics Inc.
TSX VENTURE : EUO

Eurocontrol Technics Inc.

February 23, 2011 22:00 ET

Eurocontrol Engages Investor Relations Consultant and Grants Stock Options

TORONTO, ONTARIO--(Marketwire - Feb. 23, 2011) - Eurocontrol Technics Inc. (TSX VENTURE:EUO) (the "Company"), a Canadian public company specializing in the acquisition, development and commercialization of innovative authentication and verification technologies, is pleased to announce that it has granted a total of 3,160,000 options under the stock option plan of the Company to various officers, directors and consultants, including 200,000 options which were granted to Ubika Corporation ("Ubika"). The options have an exercise price of $0.16 per option exercised and will vest immediately subject to the statutory four month hold, with the exception of the options granted to Ubika which will vest in four equal stages over a four-month period.

The Company also announces that it has entered into an agreement with Ubika as a consultant to provide research and capital market exposure services. Ubika will communicate with its network of brokers, retail advisors, investors and others in the investment community to raise the profile of the Company through, among other things, the preparation and distribution of research reports pertaining to the Company, making accessible the Company's profile on Ubika's flagship website portal www.smallcappower.com and conducting presentations on the Company. In consideration of its services, in addition to the options granted as noted above, Ubika will receive a monthly fee of $5,000. The agreement is for a one-year term, subject to automatic renewals unless either Eurocontrol Technics or Ubika terminates the engagement upon giving the other party 30 days' advance notice. 

About Eurocontrol Technics Inc.

Eurocontrol Technics Inc. through its two wholly owned subsidiaries Global Fluids International S.A. ("GFI") and Xenemetrix Inc., is one of the world's pioneers in developing and implementing innovative molecular marking systems for the oil industry. Through its proprietary Petromark™ integral system, GFI has developed a 4-part solution consisting of a molecular marker, injection, monitoring and control components. Such oil industry cost realities along with GFI's 5-year R&D efforts to create its industry-leading marking solutions, along with access to capital provided by Eurocontrol Technics Inc. allows management to pursue numerous anticipated oil marking opportunities in 2011 and in years to come.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Eurocontrol to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Eurocontrol does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

  • Eurocontrol Technics Inc.
    W. Bruce Rowlands
    President and Chief Executive Officer
    (416) 861-5883
    browlands@eurocontrol.ca