Open EC Technologies, Inc.
TSX VENTURE : OCE

Open EC Technologies, Inc.

December 24, 2008 13:59 ET

Open EC Technologies, Inc. Cancels Stock Options

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 24, 2008) - Open EC Technologies Inc. (TSX VENTURE:OCE)-The Company is cancelling stock options with respect to 2,380,834 shares. Following the cancellation the Company will have 712,500 options issued under its rolling 10% stock option plan. The Company has 56,461,235 issued and outstanding common shares. Any future options to director, officers, employees and consultants will be granted, subject to TSX Venture Exchange acceptance, on terms in accordance with the Company's Stock Option Plan and with Exchange policy.

About Open EC Technologies Inc.

Open EC Technologies, Inc. ("OCE") www.openec.com is a TSX Venture Exchange listed holding company specializing in the acquisition of software companies in e-business, mobile business and business to business (b2b) commerce. Our subsidiaries, SoftCare EC Solutions Inc., www.softcare.com, and Shenzhen Headware Software System Ltd., www.headware.cn provide software solutions to customers throughout North America and Asia. With over 400 employees in the OpenEC Group of companies, we deliver global innovative software solutions to mid-market through Fortune 100 companies.

ON BEHALF OF THE BOARD

Martyn A. Armstrong, President & CEO

Trading in the securities of Open EC should be considered speculative. The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

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.

Contact Information

  • Corporate Inquiries
    Open EC Technologies, Inc.
    Martyn A. Armstrong, President & CEO
    (604) 983-8083
    (604) 983-8056 (FAX)
    or
    Open EC Technologies, Inc.
    Mr. Michael (Gong) Chen
    CFO and Director
    (604) 983-8083
    (604) 983-8056 (FAX)
    Email:investors@openec.com
    Website: www.openec.com
    or
    Investor Relations
    SDNL Financial Communications
    Sylvain Laberge
    (514) 380-5610
    Email: slaberge@sdnlfinancial.com