ThermoCeramix Corporation
TSX VENTURE : TCX

April 08, 2014 21:50 ET

ThermoCeramix Corporation Announces Option Grants and Certain Corporate Matters

TORONTO, ONTARIO--(Marketwired - April 8, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

ThermoCeramix Corporation (TSX VENTURE:TCX) (the "Corporation") today announced that it has granted stock options to purchase an aggregate of 125,000 common shares of the Corporation to certain of its directors and officers as authorized by the board of directors (the "Board") at yesterday's duly called Board meeting. The Corporation is also pleased to announce the establishment of its audit committee, the establishment of its compensation and governance committee and the approval of indemnification agreements between the Corporation and each of its directors and officers.

Option Grants

The Corporation has granted to certain directors and officers stock options to acquire an aggregate of 125,000 common shares of the Corporation. The stock options vest over three years and are exercisable into common shares of the Corporation at a price of C$0.95 per share, the closing price of the Corporation's common shares as at April 7, 2014. The stock options are exercisable for a period of 10 years from the date of grant. The common shares issuable upon exercise of the stock options will be subject to resale restrictions for a period of four months from the grant date.

Audit Committee

The Corporation has established an audit committee in order to assist the Board in carrying out its oversight responsibility for the corporation's internal controls, financial reporting and risk management processes. The Board has appointed Louis J. Maroun (chair), Kimberly Holden and Robert Barton as the members of the audit committee.

For biographies of the members of the Corporation's audit committee please see the Corporation's filing statement dated March 26, 2014 (the "Filing Statement") filed under the Corporation's SEDAR profile at www.sedar.com.

Compensation and Governance Committee Appointed

The Corporation has established a compensation and governance committee in order to assist the Board in fulfilling its oversight responsibilities with respect to executive compensation review and disclosure, the administration of compensation plans, and the corporate governance practices and policies of the Corporation. The Board has appointed Louis Desmarais (chair), Kimberly Holden and Jean Bedard as the members of the compensation and governance committee.

For biographies of the members of the Corporation's compensation and governance committee please see the Corporation's Filing Statement filed under the Corporation's SEDAR profile at www.sedar.com.

Director & Officer Indemnification Agreements Approved

The Board has approved and the Corporation has been authorized to enter into director & officer indemnification agreements with each of its directors and officers.

About ThermoCeramix Corporation

The Corporation is an engineering company incorporated under the Business Corporations Act (Ontario). The Corporation is engaged in the research and development of heating solutions for industrial, commercial and residential applications. These solutions utilize TCX™ film heater technology, a patented and proprietary technology for which the Corporation holds a patent portfolio.

Neither the 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.

Forward-Looking Statements

Certain information set forth in this press release may contain "forward-looking statements" or "forward-looking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein may constitute forward-looking statements. Any such forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Any such statements are not guarantees of future performance and undue reliance should not be placed on them. Any such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Corporation's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. There can be no assurance that any such forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

Contact Information

  • ThermoCeramix Corporation
    Louis Desmarais
    President and Chief Executive Officer
    (450) 641-5461
    info@thermoceramix.com