Prism Medical Ltd.
TSX VENTURE : PM

Prism Medical Ltd.

August 03, 2005 14:36 ET

Prism Medical Ltd. 'PM:TSX-VEN' Grant of Incentive Options

MISSISSAUGA, ONTARIO--(CCNMatthews - Aug. 3, 2005) - Prism Medical Ltd. ("Prism") (TSX VENTURE:PM) announced today that it granted options to acquire 286,500 common shares to certain of the directors, officers and employees of Prism and its subsidiaries. Options to acquire 256,500 common shares at an option price of $4.30 were granted immediately following the annual meeting of shareholders held May 27, 2005 at which the amended incentive stock option plan of Prism was approved. These options included 50,000 options granted to Clive Ecroyd who was elected as a director of Prism at the annual meeting as part of the previously announced acquisition of TriCare Developments. Options to acquire 30,000 common shares were granted July 14, 2005 at an option price of $4.90 to one of the principals of CareFree Lifting Limited as part of the previously announced acquisition of that company.

Prism is a holding company whose wholly-owned subsidiaries include Waverley Glen Systems Ltd. ("Waverley Glen"), North America's premier ceiling lift manufacturer with distribution across Canada and the United States and Westholme Limited, the largest distributor of moving and handling products in the United Kingdom. Ceiling lifts are considered a superior method to lift, reposition and transfer mobility-impaired patients. Waverley Glen's portable and fixed ceiling products are sold in the homecare and institutional medical markets through specialized full service dealers.

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

Contact Information