reWORKS Environmental Corp.
TSX VENTURE : REW

August 17, 2007 15:11 ET

reWORKS Environmental Corp. Grants Incentive Stock Options and Extends Expiry Date for 500,000 Warrants

TORONTO, ONTARIO--(Marketwire - Aug. 17, 2007) - reWORKS Environmental Corp. (TSX VENTURE:REW) announces that it has granted a total of 300,000 stock options to its officers and employees, subject to regulatory approval. Each of the options is exercisable at a price of $0.217 per common share until August 9, 2012 and will vest in three equal instalments over the next two years.

The Company has also granted extension of the expiry date for 500,000 warrants to purchase common shares at $0.30 per share from December 31, 2007 to May 15, 2008, subject to regulatory approval.

reWORKS Environmental Corp., through its wholly owned subsidiary, Forterra Inc., manufactures and markets environmentally friendly organic fertilizers and soil supplements. Forterra Inc. has developed, refined and commercialized a green process that uses red wiggler worms to convert organic food waste into high quality worm castings, the prime ingredient in the company's organic fertilizer products. Forterra Inc. is the North American leader in commercializing this indoor process ensuring superior quality control. The major markets for Forterra Inc's environmentally friendly products include golf courses, lawn care, greenhouses, wineries, nurseries and agriculture. Forterra Inc. is headquartered in Toronto, Ontario.

For a complete description of the business of reWORKS Environmental Corp. and other information, please review the documents filed on SEDAR (www.sedar.com).

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

Contact Information

  • reWORKS Environmental Corp.
    Donald Green
    Chairman and CEO
    (905) 634-8647
    Email: green@forterra.ca