TORONTO, ON and STORRS, CONNECTICUT--(Marketwire - March 1, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL)(OTCQX:OPELF) ("OPEL") announces that the Board of Directors has amended the Company's Stock Option Plan (the "Plan") to increase the number of shares reserved for issuance (the "Reserved Number") under the Plan from 18,472,000 to 26,475,000. The Reserved Number of 26,475,000 represents 20% of the issued and outstanding common shares of the Company. The current Plan was approved by shareholder on June 21, 2011. This amendment to the Plan is subject to the approval of the TSX Venture Exchange ("TSXV") and will be submitted for shareholders approval at the upcoming AGM in June.
There are currently 17,399,000 options outstanding under the Plan and 461,000 options (the "Available Reserve") available for future grants. With the increase in the Reserved Number, the Company will have 8,003,000 available options for future grants under the amended Plan.
About OPEL Technologies Inc. and ODIS Inc.
With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory; and through OPEL Solar, Inc., provided systems for energy applications. The Company has 34 patents issued and 6 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high-speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares trade on the TSX Venture Exchange under the symbol "OPL". For more information please visit our websites at www.opeltechinc.com and for ODIS at www.odisinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
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.