| News
Release |
|
| For immediate release |
Trading Symbol: LTI |
Cell-Loc Location Technologies announces grant of stock options
Calgary, AB, July 27, 2004 – Cell-Loc Location Technologies Inc. (TSX-V: LTI) (“CLTI”) today reported the grant of incentive stock options (“options”) to certain officers and employees of the Company, to purchase a total of 458,000 common shares at a price of $0.16 per share, based on the closing price of the stock on Tuesday, July 27, 2004 (the “grant date”). Of the 458,000 options being granted, 139,000 have been allotted to officers of the Company.
All of the options granted on July 27, 2004 vest over two years; one third of the options shall be vested immediately, one third on the one-year anniversary of the grant date and the remaining one third on the two-year anniversary of the grant date. Vested options can be exercised at any time during the five-year period following the grant date. These options are granted under the Company’s stock option plan approved by shareholders on December 1, 2003.
About
Cell-Loc Location Technologies Inc.
Cell
Loc Location Technologies Inc. (www.cell-loc.com) is the developer of Cellocate™,
a family of network-based wireless location products that enable location-based
services. Located in Calgary, Alberta, Cell-Loc currently develops, markets and
supports its patented wireless location technology in North and South America
and Asia, with a view to expanding globally. Cell-Loc is listed on the TSX
Venture Exchange under the trading symbol: "LTI."
Forward
Looking Statements: This news release
contains certain information that may constitute forward-looking statements
under applicable securities laws. The reader is cautioned that assumptions used
in the preparation of such information, although considered reasonable by the
Company at the time of preparation, may prove to be incorrect.
Actual results achieved may vary from the results anticipated or implied
herein and variations may be material. There is no representation by the Company
that actual results achieved will be the same in whole or in part as those
implied in any forward looking statements.
TSX Venture Exchange has neither approved nor disapproved of the contents of this news release.
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For further information about CLTI and the ongoing technology business, please contact:
Tammy
Yamkowy
Director, Corporate Communications & Investor Relations
Cell-Loc
Location Technologies Inc.
Phone: 403.569.5748
investor@cell-loc.com