LEVIS, QUEBEC--(Marketwire - March 30, 2012) - Nuvolt Corporation Inc. ("Nuvolt") (TSX VENTURE:NCO) announces that a modification to the stock option plan has been approved by the shareholders on the Annual General Meeting held on March 14, 2012. The current Plan has been amended in order for it to become a Rolling Plan, pursuant to which the number of shares that may be issued following the exercise of options granted under the Plan automatically increases or decreases as the number of issued and outstanding shares of the Corporation increases or decreases. The maximum number of shares that may be issued under the New Plan is limited to 10% of the issued and outstanding shares of the Corporation at the time of the grant of the options.
Nuvolt also announces the granting of a total of 5,537,501 stock options at an exercise price of $0.10 per share to members of the Board, consultants, managers and key employees. The stock options can be exercised up until March 14, 2017.
About Nuvolt Corporation Inc.
Nuvolt has developed a specialized expertise in the monitoring and the management systems for electrical failures, power quality, the detection and neutralization of leakage current for the agriculture, maritime, commercial and industrial markets.
SmartScan is now available to the agriculture market. The SmartScan system has the ability to predict an electrical failure on equipment and electrical networks. It could prevent equipment failures and production downtime on production assembly lines and commercial buildings and also fire risks. The ShipScan, for the maritime market, and the SmartScan Pro, for the industrial market, are under manufacturing. The first deliveries to customers are planned for May 2012.
Certain statements contained in this press release constitute forward-looking information. Such statements are based on the current expectations of management. You are cautioned that such statements can be subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected in the forward-looking information. The reader should not place undue reliance on the forward-looking information included in this press release given that (i) actual results could differ materially from a conclusion, forecast or projection in the forward-looking information, and (ii) certain material factors or assumptions were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking information could prove to be inaccurate. These statements speak only as of the date they are made, and Nuvolt assumes no obligation to revise such statements as a result of any event, circumstance or otherwise, except in accordance with law.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.