TORONTO, ONTARIO — (Marketwired) — 09/17/14 — CRS Electronics Inc. (“CRS” or the “Company”), (TSX VENTURE: LED), a developer and manufacturer of LED lighting products, today announced it has granted an aggregate of 3,055,000 stock options under its stock option plan to all full time employees and independent directors of the Company.
All of the options have a term of five years, are exercisable at a price of $0.17 per share and vest as to one-fourth at the end of each of the four anniversay dates following the date of grant and subject to the terms of the Company–s stock option plan.
An aggregate of 1,700,000 options with the described allocations were granted to each of the following insiders of the Company, being Mr. Travis Jones, Chief Executive Officer 500,000 options, Ms. Jennifer Li, Chief Administrative Officer 500,000 options, Mr. Scott Riesebosch, Chief Technology Officer 100,000 options, Mr. Matthew Groen, Chief Financial Officer 500,000 options, Mr. Bernard Erickson, Chair of the Compensation Committee 50,000 options, and Robert Neill, Chair of the Audit Committee 50,000 options.
About CRS Electronics
CRS Electronics Inc. (TSX VENTURE: LED), is a leader in the emerging, rapidly-growing market of high efficiency light-emitting-diode (“LED”), or, solid state lighting (“SSL”). The principal activities of CRS Electronics include the development, manufacture and sale, primarily in North America, of indoor lighting products such as LED replacement lamps, exterior LED warning lights for school buses, child safety systems for school buses, LED architectural lighting fixtures, and contract manufacturing of LED circuit boards. As an innovator of LED solutions since 1998, CRS Electronics continues to expand its product portfolio and market presence with business partners and customers, and under its own product brands, which include CRS Electronics and Lumenova.
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws which can be identified by terminology such as “may”, “will”, “could”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “projects”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other CRS filings, and include availability of sufficient working capital for development and operations, availability of a qualified work force, availability of manufacturing equipment and the ultimate ability execute its business plan on economically favourable terms. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other CRS filings at and other unforeseen events or circumstances. Other than as required by law, CRS does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
Contacts:
CRS Electronics Inc.
Investor Relations
Matthew Groen
Chief Financial Officer
CRS Electronics Inc.
Media
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