OPEL International Inc.
TSX VENTURE : OPL

OPEL International Inc.

February 23, 2009 16:15 ET

OPEL International Grants Stock Options

TORONTO, ONTARIO and SHELTON, CONNECTICUT--(Marketwire - Feb. 23, 2009) - OPEL International Inc. (TSX VENTURE:OPL) (the "Company"), announces the grant of stock options under its stock option plan to certain officers, employees and consultants of the Company to purchase up to an aggregate of 865,000 common shares, representing 1.4% of the outstanding voting shares of the Company. Options granted to officers of the Company, represent 61% of the grant. The stock options are exercisable at a price of CA$0.16 per share expiring February 13, 2014. There are currently 7,389,000 options outstanding and 60,585,849 voting shares outstanding.

The options will vest and be exercisable on the basis of 25% on the date of grant (February 13, 2009) and 25% every six months thereafter. All shares issuable pursuant to the exercise of options are subject to a hold period until June 14, 2009. The options were granted subject to provisions of the Company's stock option plan approved by shareholder in June 2007, the TSX Venture Exchange policies and the applicable securities laws.

About OPEL International

With operations headquartered in Shelton, Connecticut and Toronto, Ontario, Canada, OPEL designs, manufactures and markets high performance concentrating photovoltaic ("HCPV") panels to transform solar energy into electricity for worldwide application. OPEL's high performance photovoltaic concentrating panels generate up to 40% more kilowatt-hours than conventional flat plate silicon solar panels, resulting in more cost effective electricity generated from the sun. OPEL also markets a complete line of dual axis solar trackers to mount solar panels for the optimum power output. OPEL also designs infrared sensor type products for military and industrial applications.

A leader in gallium arsenide and solar photovoltaic technology, OPEL has been awarded 31 patents and has 15 more patents pending. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information about OPEL, please visit the Company's website at www.opelinc.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

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

Contact Information

  • OPEL International Inc.
    Pat V. Agudow
    Vice President, Administration
    (203) 612-2366 Ext 2612
    (203) 944-0800 (FAX)
    Email: p.agudow@opelinc.com
    Website: www.opelinc.com
    or
    W.T. Blase & Associates, Inc.
    Bill Blase, Cathy Loos or Stephanie Kuffner
    Media Relations
    (212) 221-1079
    Email: info@wtblase.com