Medifocus Inc. Announces Stock Option Grants and Share Awards
17 Diciembre 2012 - 1:23PM
Marketwired Canada
Medifocus Inc. (TSX VENTURE:MFS)(OTCQX:MDFZF) (Medifocus or the Company)
announces that it granted incentive stock options to the directors and officers
of the Company to purchase an aggregate of 4,825,000 common shares. The options
are exercisable at a price of $0.19 per common share, expire three years from
their date of grant and will vest on the first anniversary of their date of
grant.
The exercise price of all incentive stock options granted is equal to the
closing price of the Company's common share on the TSX Venture Exchange on the
trading day immediately preceding the grant. The incentive stock options are
subject to the terms and conditions of the Company's Stock Option Plan and the
policies of the TSX Venture Exchange.
Details of the option grants are as follows:
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Name Title Number of Options Granted
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Grant B. Walsh Chairman 250,000
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Dr. Augustine Y. Cheung President and CEO and 2,000,000
Director
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Joseph S. C. Chan Director 150,000
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Dr. Augustine P.Y. Chow Director 150,000
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Ernie Eves Director 150,000
----------------------------------------------------------------------------
Tak Cheung Yam Director 225,000
----------------------------------------------------------------------------
John Mon Chief Operating Officer 1,250,000
----------------------------------------------------------------------------
Mirsad Jakubovic Chief Financial Officer 650,000
----------------------------------------------------------------------------
Medifocus also announces that it has awarded an aggregate of 1,755,095 common
shares to certain directors and officers in lieu of part of the remuneration to
which such individuals are normally entitled. These awards are part of the
3,000,000 common shares approved by the shareholders of Medifocus for such
purpose on November 28, 2012.
Details of the common share awards are as follows:
----------------------------------------------------------------------------
Name Title Number of Shares Awarded
----------------------------------------------------------------------------
Dr. Augustine Y. Cheung President and CEO and 792,058
Director
----------------------------------------------------------------------------
Ernie Eves Director 500,000
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John Mon Chief Operating Officer 363,037
----------------------------------------------------------------------------
Mirsad Jakubovic Chief Financial Officer 100,000
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About Medifocus
Medifocus develops and commercializes minimally invasive heat treatment systems
used in treatment of cancerous and benign tumors, and enlarged prostate, Benign
Prostatic Hyperplasia ("BPH").
The Company owns two technology platforms with comprehensive US and
international patent protection: The "Endo-thermotherapy Platform" and the
"Adaptive Phased Array Microwave Focusing Platform". The Company has developed
two advanced therapeutic products: the Adaptive Phased Array (APA)-1000 system
for treatment of breast cancer and the Prolieve(R) system for the treatment of
BPH. The APA-1000 uses precisely focused and controlled microwave energy to
shrink breast cancer tumors without side-effects on the surrounding tissues to
produce better treatment outcomes. The Company has received regulatory approvals
to complete the APA 1000's pivotal Phase-III clinical trials, the final step
before marketing approval. The U.S. FDA-approved Prolieve(R) System
(www.prolieve.com) is a medical device based on endo-thermotherapy that both
heats the prostate and dilates the prostatic urethra. The Prolieve(R) System is
the only minimally invasive treatment option for the symptoms of enlarged
prostate in men indicated by the FDA as an in office treatment alternative to
drug therapy. The Prolieve(R) System is a revenue generating product catering to
the $8 billion non-surgical BPH drug market. The Company is currently focusing
on marketing Prolieve(R) for the treatment of BPH and completing the APA 1000
breast cancer system's Phase III study. For more information, visit
www.medifocusinc.com.
Forward-Looking Statements and Information
This news release contains "forward-looking statements" and "forward-looking
information", which may not be based on historical facts. Forward-looking
statements and forward-looking information, include, but are not limited to,
information and statements with respect the proceeds of the Offering and the
expected use of the proceeds. Forward-looking statements are frequently
characterized by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate" and other similar words, or statements that certain
events or conditions "may" or "will" occur. Forward-looking statements are based
on the opinions and estimates of management at the date the statements are made.
Such forward-looking statements and forward-looking information involve known
and unknown risks, uncertainties and other factors that may cause the actual
results events or developments to be materially different from any future
results, events or developments expressed or implied by such forward-looking
statements or forward-looking information. These factors should be considered
carefully and readers are cautioned not to place undue reliance on such
forward-looking statements and forward-looking information. Except as required
by applicable securities laws, the Company disclaims any obligation to update
any such factors or to publicly announce the results of any revisions to any of
the forward-looking statements or forward-looking information contained herein
to reflect future results, events or developments.
FOR FURTHER INFORMATION PLEASE CONTACT:
Medifocus Inc.
John Mon
(410) 290-5734
jmon@medifocususa.com
www.medifocusinc.com
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