Mr. William Crossland reports
THERMAL ENERGY INTERNATIONAL ANNOUNCES GRANT OF STOCK OPTIONS
Thermal Energy International Inc. has granted 3,875,000 options to purchase common shares of the company to directors and officers of Thermal Energy International as part of an overall remuneration and incentive program.
As a result of a number of significant developments in the company's business over the past 12 months, Thermal Energy International has not issued stock options since May 30, 2016.
The stock options were granted pursuant to the terms of Thermal Energy International's stock option plan, have a five-year term and are exercisable at eights cents per share, being the closing price of the company's shares on Nov. 29, 2018. One-third of the options will vest with the optionee on each of the first three anniversaries of the date of grant. Stock option grants are subject to necessary regulatory approvals.
About Thermal Energy International Inc.
Thermal Energy International is an established global supplier of proprietary and proven energy efficiency, emissions reduction and sustainability solutions to the industrial, commercial and institutional sectors. Thermal Energy International saves its customers money and improves their bottom line by reducing their fuel use and cutting their carbon emissions.
Thermal Energy International is also a fully accredited professional engineering firm and, by providing a unique mix of proprietary products together with process, energy and environmental engineering expertise, Thermal Energy International is able to deliver unique turnkey projects with significant financial and environmental benefits for its customers.
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