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Galvanic Applied Sciences announces grant of options

^{Published on 2009-09-04 12:55:46 - Market Wire}
 

 CALGARY, Sept. 4 /CNW/ - Galvanic Applied Sciences Inc. (TSX-V: GAV) (the "Company") announces the grant of incentive stock options to acquire an aggregate of 320,000 common shares to officers of the Company pursuant to the Company's Stock Option Plan. The options are exercisable at a price of $0.35 per share, have an expiry date of September 4, 2014 and vest equally over three years on the anniversary date of the grant. This issue represents approximately 2.03% of the Company's current issued and outstanding shares. The Company's Stock Option Plan received approval of shareholders at the Company's annual and special meeting held on August 25, 2009. The aggregate number of common shares that may be issued pursuant to the exercise of options awarded under the Stock Option Plan and all other security based compensation arrangements of the Company is 10% of the common shares issued and outstanding from time to time. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The news release may contain forward-looking information. Actual future results may differ materially from those contemplated. 

For further information: Grant Reeves, Chief Executive Officer, (403) 258-9709; or Helen Cornett, Chief Financial Officer, Telephone: (403) 252-8470, Fax: (403) 255-6287, email: [ info@galvanic.com ], website: [ www.galvanic.com ]