Pacific Safety Products Announces Adoption of New Stock Option Plan and Stock
ARNPRIOR, ONTARIO -- (Marketwired) -- 04/18/13 -- Pacific Safety
Products Inc. ("PSP" or the "Company") (TSX VENTURE:PSP), a leading
North American manufacturer of advanced armour and personal
protection solutions, announced today that the Board of Directors has
adopted a new fixed stock option plan (the "2013 Plan") in compliance
with the rules of the TSX Venture Exchange, which will replace and
supersede the existing stock option plan of the Company, adopted on
December 22, 2010. The number of common shares reserved for issuance
under the 2013 Plan is fixed at 5,950,489 shares. A copy of the 2013
Plan will be filed on SEDAR (www.sedar.com).
The Company also announced that it has granted 50,000 stock options
to Mr. Rudy Witlox, the Company's newly appointed Chief Financial
Officer. The stock options are exercisable at a price of $0.10 per
share and expire five years from the date of grant.
The mission statement of Pacific Safety Products Inc. is ...we bring
everyday heroes home safely(R). PSP is an established industry leader
in the production, distribution and sale of high-performance and
high-quality safety products for the defence and security market.
These products include body armour to protect against ballistic, stab
and fragmentation threats, ballistic blankets to reduce blast
effects, tactical clothing, and protective products against chemical
and biological hazards. PSP is the largest body armour manufacturer
in Canada, directly supplying the Canadian Department of National
Defence, Federal Government Agencies and major Canadian law
enforcement organizations. The Company, through its U.S. subsidiary
Sentry Armor Systems Inc., provides body armour products under the GH
Armor Systems(R) brand to U.S. based law enforcement and private
security firms. The Company also produces tactical clothing. Pacific
Safety Products is a reporting issuer in British Columbia, Alberta
and Ontario, Canada and publicly trades under the symbol PSP on the
TSX Venture Exchange.
For complete consolidated financial statements with notes and
management discussion and analysis, refer to SEDAR (www.sedar.com).
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Pacific Safety Products Inc.
Chief Executive Officer
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