Nesscap Energy Inc
TSX VENTURE : NCE

Nesscap Energy Inc

February 25, 2011 09:54 ET

Nesscap Energy Inc. Announces Stock Option Grants

TORONTO, ONTARIO--(Marketwire - Feb. 25, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICE OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.

Nesscap Energy Inc. ("Nesscap Energy" or the "Company") (TSX VENTURE:NCE) announces that it granted incentive stock options to the directors of the Company to purchase an aggregate of 2,100,000 common shares. Each of Dr. Sun-Wook Kim, Dr. Sang-Gook Kim, Dr. Hyun-Jin Song, Hyun-Jun Kim, Ilya Golubovich, John D. Pennal and Richard S. Sutin were granted 300,000 incentive stock options. The options are exercisable at a price of $0.40 per common share, expire five years from their date of grant and will vest in three equal yearly instalments on the first, second and third anniversary of their date of grant.

The exercise price of all incentive stock options granted is equal to the closing price of the Company's common share on the TSX Venture Exchange on the date immediately preceding the grant. The incentive stock options are subject to the terms and conditions of the Company's Stock Option Plan and the policies of the TSX Venture Exchange.

About Nesscap Energy

Nesscap Energy is a leading developer and manufacturer of ultracapacitors and is the first Korean-based company to be listed on the TSXV. The Company is partnered with Hyundai Motor, a global automotive manufacturer, to develop ultracapacitors for applications in Hyundai's hybrid electric vehicles. In addition, Nesscap Energy is well positioned to take advantage of the rapid market growth for ultracapacitors in non-traditional markets such as China. In 2010, Nesscap Energy was one of only 10 corporations located in the Asia/Pacific region to be recognized by the Global Cleantech 100, as one of the most promising clean technologies companies in the world. Nesscap Energy's major shareholders include global blue chip companies such as Hyundai Motor and Singapore Technologies Kinetics.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has in any way approved or disapproved of the contents of this press release.

Contact Information

  • Nesscap Energy Inc.
    Dr. Sun-Wook Kim
    Chief Executive Officer
    82-31-289-0711
    or
    Nesscap Energy Inc.
    Debbie Bamforth
    Corporate Communications
    905-599-3322