Naturally Advanced Technologies Inc granted a stock option to purchase up to 500,000 shares in the capital of NAT at an exercise price of US$1.45 per share to Kenneth C. Barker, NAT's Chief Executive Officer. Press release notice of this grant falls under standard compliance requirements of the TSX Venture Exchange.
Miljenko Horvat, Chairman of the board, stated, "We have an extremely talented management team and it is our policy to employ stock options as incentive. This year Ken has led the team in efforts that culminated in two significant milestones: CRAILAR(r) trials for Organic Fibers with a leading U.S. apparel brand and CRAILAR trials for Advanced Materials with one of North America's largest pulp and paper producers. We look forward to management driving to commercialization with the goal of establishing commercial partnerships."
The stock option is dated October 14, 2008 and is subject to an 18 month vesting schedule under the terms and conditions of NAT's existing fixed share option plan. The options carry a three year term and expire on October 14, 2011.
Naturally Advanced Technologies Inc is committed to unlocking the potential of renewable and environmentally sustainable biomass resources from hemp and other bast fibers.
Naturally Advanced Technologies Inc
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