CALIFORNIA NANOTECHNOLOGIES ISSUES STOCK OPTIONS
Created at :
Dec 3, 2013
CALIFORNIA NANOTECHNOLOGIES CORP.
CERRITOS, CALIFORNIA, December 3, 2013 – California Nanotechnologies Corp. is pleased to announce the appointment of Mr. Christopher Melnyk as CEO of the Corporation. Mr. Melnyk has been Vice President for the last 3 years and as such has been instrumental in driving the Company forward. Mr. Andy Bengis will be taking on the role of Interim CFO. Mr. Bengis has undertaken most of the accounting functions of California Nanotechnologies for several years and as a result is well prepared to undertake this new role. Both of these appointments are effective December 1, 2013.
The Company would like to thank Mr. Timothy Wang for his contribution as CFO over the last 6 years. Mr. David Grant will remain as the Chairman of the Board of Directors while relinquishing his daily function as CEO.
To encourage the further development of the Company, incentive stock options have been granted to the following officers and directors. The options were granted according to the table below:
These options were granted on Dec 3, 2013 and are priced at $0.05 which is the Minimum Price as defined by the TSX Venture Corporate Manual. The options were granted pursuant to the Company’s Stock Option Plan, which received shareholder approval at the Annual General and Special Meeting held on October 18, 2013. These stock options vest equally over a three year period, expire after a five years, and are subject to TSX Venture Exchange requirements.
For further information, please contact:
Christopher Melnyk, CEO
(562) 926-6913 (fax)