Open EC Technologies, Inc.
TSX VENTURE : OCE

Open EC Technologies, Inc.

May 20, 2010 17:30 ET

Open EC Technologies, Inc. Announces Election of Directors and Officers at 2010 Annual General Meeting

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 20, 2010) - Open EC Technologies, Inc. ("Open EC" or the "Company") (TSX VENTURE:OCE) announces that at the Annual general Meeting ("AGM") of the shareholders held on May 6, 2010, the following people were elected directors: Martyn A. Armstrong, Jeffrey G. Hoag and Roy Trivett. 

At the Board meeting held immediately following the AGM on May 6, 2010, Martyn A. Armstrong was appointed as President and Chief Executive Officer of the Company and George Dorin, CA was appointed as Chief Financial Officer. Anette Anastacio was appointed as Corporate Secretary. The Company's Audit, and Corporate Governance and Compensation Committee were also reconstituted for the ensuing year. The Company's Stock Option Plan dated October 23, 2003 was also reapproved until next AGM, subject to filing with TSX-V.

As previous announced on April 30, 2010, the Company has entered into an Investor Relations Agreement with David Ellis. The 150,000 stock options referred to in that news release were granted to David Ellis on April 28, 2010 at a price of $0.15 per share and they expire after 18 months. The options will vest over 12 months with no more than 1/4 (25%) vested in any three month period. 

About Open EC Technologies Inc.

Open EC is a TSX Venture Exchange listed company. Its subsidiary, SoftCare EC Solutions Inc. is an e-business software, services and solution provider. SoftCare's OpenEC® e-business software includes solutions for Electronic Data Interchange (EDI), Healthcare Interoperability and Business Process Management. The Company sells the OpenEC® products and solutions to the healthcare, financial services and retail supply chain in North America. The company has a growing focus on turnkey solutions for US Healthcare Information Technology Reforms funded by the US Federal Government ARRA programs for Healthcare IT Interoperable mandates. Additional product and solution information is available on the web at www.softcarehealthcare.com and www.softcare.com and additional public company information is available on the web at www.openec.com. The Company's common shares trade on the TSX Venture Exchange under the symbol: OCE.

ON BEHALF OF THE BOARD

Martyn A. Armstrong, President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com) or by contacting Mr. Martyn A. Armstrong, President & CEO of the Company.

This news release may contain forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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

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