Tickers: XTSX:TMG, PINX:TMGEF
Tags: Alternative Energy
OTTAWA, ONTARIO / TheNewswire / November 30, 2018 - Thermal Energy International Inc. ("Thermal Energy" or the "Company") (TSX-V: TMG), an innovative cleantech company and provider of proprietary energy and water efficiency, emission reduction and sustainability solutions to businesses globally, today announced that it has granted 3,875,000 options to purchase common shares of the Company to directors and officers of the Company 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 the Company has not issued stock options since May 30, 2016.
The stock options were granted pursuant to the terms of the Company's stock option plan, have a 5 year term and are exercisable at $0.08 per share being the closing price of the Company's shares on November 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.
For media enquiries contact:
Devin Crockett or Liz Fisher
Marketing Manager
Thermal Energy International Inc.
Canada: 613-723-6776
UK: +44 (0)117 917 2179
For investor enquiries:
William Crossland
President and CEO
Thermal Energy International Inc.
613-723-6776
Bill.crossland@thermalenergy.com
Notes to editors:
About Thermal Energy International Inc.
Thermal Energy International Inc. an innovative cleantech company and provider of proprietary energy and water efficiency, emission reduction and sustainability solutions to businesses globally. We save our customers money and improve their bottom line by reducing their fuel use and cutting their carbon emissions. Our customers include a large number of Fortune 500 and other leading multinational companies across a wide range of industry sectors.
Thermal Energy 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 is able to deliver unique turnkey projects with significant financial and environmental benefits for our customers.
Thermal Energy's proprietary products include; GEMTM - Steam Traps, FLU-ACE(R) - Direct contact condensing heat recovery, Heat-Sponge, SIDEKICK and RAINMAKER - Indirect contact condensing heat recovery systems, and Dry-Rex(R) - Low temperature biomass drying systems.
Thermal Energy has offices in Ottawa, Canada, Pittsburgh, USA, as well as Bristol, U.K., Germany, Poland, Italy and China. TEI's common shares are traded on the TSX Venture Exchange (TSX-V) under the symbol TMG.
For more information, visit our website at www.thermalenergy.com and follow us on Twitter at http://twitter.com/GoThermalEnergy.
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