November 27, 2009 16:20 ET

H2O Innovation Amends its Stock Option Plan and Grants Stock Options

QUEBEC CITY, QUEBEC--(Marketwire - Nov. 27, 2009) - H2O Innovation Inc. ("H2O Innovation" or the "Company")(TSX VENTURE:HEO)(ALTERNEXT:MNEMO:ALHEO), a complete water treatment solutions company providing custom designed water treatment systems along with operating and maintenance solutions, announces the amendment of its stock option plan and the grant of stock options to certain members of its Board of Directors.

The Company's stock option plan has been amended to, among others, (i) increase the number of common shares available in the plan from 3.4 million to 5.5 million shares, which represents approximately 10% of the issued and outstanding common shares of the Company; (ii) increase the maximum term of stock options from 5 to 10 years; (iii) increase the vesting period from 18 months to 24 months; and (iv) update the general terms and conditions of the former stock option plan in light of the recent changes to the applicable securities legislation and to the policies of the TSX Venture Exchange. The amended stock option plan remains subject to the approval of the TSX Venture Exchange.

Furthermore, the Company wishes to announce that a total of 205,000 stock options were granted today to its five independent directors, the whole pursuant to the terms and conditions of the Company's newly amended stock option plan. Each stock option entitles its holder the right to acquire one common share of the Company at a price of $0.75 before November 27, 2019.

About H2O Innovation

Exclusively dedicated to water treatment, H2O Innovation is establishing itself as a key player in sustainable development and the field of clean technologies. H2O Innovation designs, develops, produces, and integrates state-of-the-art custom-built water treatment systems for the production of drinking water, the reclamation of water, the treatment of wastewater and industrial process water in the municipal, commercial, industrial, mining, and energy markets. Additionally, the Company offers complete operating and maintenance solutions for membrane filtration and reverse osmosis systems. H2O Innovation has approximately 100 employees and eight offices including three manufacturing and assembly plants in Canada and the United States. Shares of H2O Innovation are listed on the TSX Venture Exchange (HEO) as well as on the NYSE Euronext Alternext Exchange (MNEMO: ALHEO). For more information about H2O Innovation, visit the Company's website at www.h2oinnovation.com

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

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