TORONTO, ONTARIO -- (Marketwire) -- 12/17/12 -- 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:
---------------------------------------------------------------------------- Name Title Number of Options Granted----------------------------------------------------------------------------Grant B. Walsh Chairman 250,000----------------------------------------------------------------------------Dr. Augustine Y. Cheung President and CEO and 2,000,000 Director----------------------------------------------------------------------------Joseph S. C. Chan Director 150,000----------------------------------------------------------------------------Dr. Augustine P.Y. Chow Director 150,000----------------------------------------------------------------------------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----------------------------------------------------------------------------John Mon Chief Operating Officer 363,037----------------------------------------------------------------------------Mirsad Jakubovic Chief Financial Officer 100,000----------------------------------------------------------------------------
