Naturally Advanced Technologies Inc. announces grant and cancellation stock option
10 August 2010 - 2:29AM
PR Newswire (Canada)
PORTLAND, OR, Aug. 9 /CNW/ -- PORTLAND, OR, Aug. 9 /CNW/ -
Naturally Advanced Technologies Inc. (OTCBB: NADVF; TSXV: NAT)
announces it has granted a total of 323,377 incentive stock options
to various directors, officers, employees and consultants of the
Company. The options are exercisable at US$1.02 (CDN$1.05) per
share and will expire August 9, 2015. The options have been granted
in accordance with TSXV guidelines and the Company's 2008 Fixed
Share Option Plan. The Company also announces that Ken Barker, CEO
of the Company has agreed to cancel 100,000 of his existing
incentive stock options. The options were originally granted on
August 24, 2007 and expire on August 24, 2010. The options will be
returned to the pool of options currently available under the
Company's 2008 Fixed Share Option Plan. About Naturally Advanced
Technologies Inc. Naturally Advanced Technologies Inc. is committed
to unlocking the potential of renewable and environmentally
sustainable biomass resources from hemp and other bast fibers. The
company, through its wholly owned subsidiary, Crailar Fiber
Technologies Inc., is developing proprietary technologies for
production of bast fibers, cellulose pulp, and their resulting
by-products, in collaboration with Canada's National Research
Council and the Alberta Research Council. Crailar(R) technology
offers cost-effective and environmentally sustainable processing
and production of natural, bast fibers such as hemp and flax,
resulting in increased performance characteristics for use in
textile, industrial, energy, medical and composite material
applications. The company was founded in 1998 as a provider of
environmentally friendly, socially responsible clothing and adheres
to a "triple bottom line" philosophy, respecting the human rights
of employees, the environmental impact of the company's operations
and fiscal responsibility to its shareholders. See
www.naturallyadvanced.com Neither the TSX Venture Exchange Inc. 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 Statement
Disclaimer This news release includes certain statements that may
be deemed "forward-looking statements". All statements in this news
release, other than statements of historical facts, are
forward-looking statements. Forward-looking statements or
information are subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking statements or information and
including, without limitation, risks and uncertainties relating to:
any market interruptions that may delay the trading of the
Company's shares, technological and operational challenges, needs
for additional capital, changes in consumer preferences, market
acceptance and technological changes, dependence on manufacturing
and material supplies providers, international operations,
competition, regulatory restrictions and the loss of key employees.
In addition, the Company's business and operations are subject to
the risks set forth in the Company's most recent Form 10-K, Form
10-Q and other SEC filings which are available through EDGAR at
www.sec.gov. These are among the primary risks we foresee at the
present time. The Company assumes no obligation to update the
forward-looking statements. Investor information, please contact:
Kirsten Chapman, Cathy Mattison, Lippert/Heilshorn &
Associates, 415.433.3777, ir@naturallyadvanced.com
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