Biorem shareholders approve option plan amendment

About this update from Biorem Inc.

[{"type":"text","content":"\n\n\n\nGUELPH, ON, May 11 /CNW/ - BIOREM Inc. (TSXV:BRM) announces that\nshareholders have approved amendments to its option plan to change the plan\nfrom a 10% "rolling plan" to a fixed plan with a total of 1,796,745 common\nshares reserved for options grants. Given previous options grants the\namendment to the plan increases common shares available for new option grants\nby approximately 600,000 shares. In addition, shareholders have approved\nmodifications to the limits on granting of options to directors and officers.\nGrants to officers as a group are no longer subject to a 10% of outstanding\nshares limit, but grants to non-officer directors have been restricted to less\nthan 3% of outstanding shares. The amendments to the option plan are subject\nto acceptance by the TSX Venture Exchange.\n\n\nIn addition, Biorem Inc. announces that it has granted options to\npurchase a total of 52,000 common shares to its non-officer directors in\naccordance with its stock option plan which was recently amended by the\nshareholders. The options were granted at an exercise price of $0.33 per share\nand have an expiry date of ten years ending May 5, 2019.\n\n\nAbout BIOREM Inc.\n\n\nBIOREM manufactures Biosorbens(R) biofilter media and is a leading\nsupplier of biofilters and biotrickling for air pollution control in municipal\nand industrial applications, including BIOCUBE(R) modular units and Mytilus(R)\nbiotrickling filters. With over 600 installed systems and over a decade of\nexperience, the Company's products are the technology of choice for odor\ncontrol at wastewater treatment plants across North America. Additional\ninformation on BIOREM is also available at our web site at www.biorem.biz.\n\n\nThe TSX Venture Exchange Inc. has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release. The TSX\nVenture Exchange Inc. has in no way passed upon the merits of the\nproposed transaction and has neither approved nor disapproved of the\ncontents of this release.\n\n\n%SEDAR: 00020304E\n\n\n","length":2133,"tagName":"div"}]

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