SOURCE: ILI Technologies (2002) Corp.

June 20, 2008 09:00 ET

ILI Technologies Announces the Issuance of Options to Its Directors, Officers, Employees & Consultants

CALGARY, AB--(Marketwire - June 20, 2008) - ILI Technologies (2002) Corp. (TSX-V: ILI) ("ILI") announces that it has granted 645,000 options to purchase common shares at a price of $0.27 per share. 375,000 of the options were granted to the following directors of ILI: Thomas Milley (75,000 options), Guy Farebrother (150,000 options) and Serge Bonnet (150,000 options), 40,000 options were granted to Alice Mayer, an officer of ILI, 130,000 options were granted to 2 employees of ILI and 100,000 options were granted to a consultant to ILI. The issued options will vest quarterly over a two year period and the $0.27 issuance price represents the maximum allowable discount to the market price as at the close of business on June 19, 2008. Any shares issuable upon the exercise of an option will be subject to all required regulatory hold periods. If unexercised, the above noted option grants will expire on the earlier of: (i) a date that is immediately after such optionee ceases to be a director, officer, employee or consultant of ILI; and (ii) June 30, 2010.

ILI Technologies (2002) Corp. is a high technology company, whose principal business is to develop, manufacture and market oil and gas industry Information Technology (IT) and Operational solutions that improve business performance. ILI's business development efforts have shown excellent results, with the addition of a number of new customers from our CBM Pumps and Services Inc. acquisition and the addition of new sales, management and service teams in our offices in Alberta, Texas and Wyoming. ILI Technologies (2002) Corp. is also in the process of developing other new product lines to add to its suite of existing products.

For further information, please contact Serge Bonnet, President, ILI Technologies (2002) Corp, at: Phone: (403) 543-0060, Fax: (403) 543-0069 or E-mail: invest@ilitech.com - Website: http://www.ilitech.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:
    Serge Bonnet
    President
    ILI Technologies (2002) Corp.
    Phone: (403) 543-0060
    Fax: (403) 543-0069
    E-mail: Email Contact
    Website: http://www.ilitech.com