(Source: MARKETWIRE)
OPEL Solar International Inc. (TSX VENTURE: OPL) ("OPEL" or "the
Company"), a leading global supplier of high concentration
photovoltaic ("HCPV") solar panels and other solar products,
including ground-based and rooftop tracker systems, today announced
the grant of additional incentive stock options under its stock
option plan to certain directors, officers, and key consultants of
the Company to purchase up to an aggregate of 750,000 common shares,
representing 0.86% of the outstanding voting shares of the Company.
Options granted to the Company's officers represent 56.7% of the
total grants, and options to the independent members of the Board of
Directors of the Company represent 26.7% of the total grants. The
remaining options were granted to key consultants. The stock options
are exercisable at a price of CA$0.76 per share expiring February 28,
2020. The exercise price is closing market price of today, being the
next full trading day following yesterday's resumption of trading
after issuing the press release announcing the ODIS Intellectual
Property Valuation. There are currently 11,562,500 options
outstanding and 86,940,514 voting shares outstanding.
The options will vest and be exercisable on the basis of 25% on the
date of grant and 25% every six months thereafter. The options were
granted subject to provisions of the Company's stock option plan
which was approved by shareholders in June 2009, and subject to the
TSX Venture Exchange policies and the applicable securities laws.
About OPEL Solar International Inc.
With operations headquartered in Shelton, CT and the head office in
Toronto, Ontario, Canada, the Company, through OPEL Solar Inc.,
designs, manufactures and markets high performance concentrating
photovoltaic ("HCPV") panels to transform solar energy into
electricity for worldwide application. OPEL's high performance
photovoltaic concentrating panels generate up to 40% more
kilowatt-hours than conventional flat plate silicon solar panels,
resulting in more cost effective electricity generated from the sun.
OPEL Solar also markets a complete line of dual and single axis solar
trackers to mount either HCPV or flat solar panels for the optimum
power output. The Company, through ODIS Inc., a U.S. company, designs
infrared sensor type products for military, consumer, industrial and
commercial applications. ODIS continues to develop gallium
arsenide-based processes and semi-conductor microchip products having
several potential major market applications: infrared sensor arrays
for Homeland Security monitoring and imaging along with the unique
combination of optical lasers, and electronic control circuits on the
same microchip for potential applications in various military
programs and potentially telecom for, Fiber to The Home.
A leader in gallium arsenide and solar concentrating photovoltaic
technology, the Company has been awarded 33 patents and has 17 more
patents pending. OPEL's common shares trade on the TSX Venture
Exchange under the symbol "OPL". For more information about OPEL,
please visit the Company's website at www.opelinc.com.
Dated: March 3, 2011
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
The TSXV has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Contacts:
OPEL
Pat V. Agudow
Vice President, Public Relations
+1 (203) 612-2366 x2612
p.agudow@opelinc.com
ICR - Investor Relations
Gary Dvorchak, CFA
Senior Vice President
+1 (310) 954-1123
gary.dvorchak@icrinc.com
ICR - Public Relations
James McCusker
Vice President
+1 (203) 682-8245
james.mccusker@icrinc.com
SOURCE: OPEL Solar International Inc.
A service of YellowBrix, Inc.