LONDON, ONTARIO--(Marketwire - Feb. 18, 2009) - Critical Outcome Technologies Inc. (TSX VENTURE:COT) announced today, that at its Board meeting of February 17, 2009 the Board of Directors approved the granting of 422,389 stock options to its nine Directors under the Company's Stock Option Plan as a retainer for their service on the Board and its committees during fiscal 2009. The options vest immediately, have a life of five years and are exercisable at a price of $0.90 per share. The exercise price represents the closing price of the Company's common shares on February 12, 2009, the last trade reported on the TSX Venture Exchange prior to the meeting date.
"The use of stock options to compensate the board members allows us to conserve our cash as we move forward with our drug development plans and demonstrates the Directors' belief and commitment to the company's future," advised company Chairman, Mr. John Drake.
About Critical Outcome Technologies Inc. (COTI)
COTI is formed around a unique computational platform technology called CHEMSAS(R), which allows for the accelerated identification, profiling and optimization of targeted small molecules potentially effective in the treatment of human diseases for which current therapy is either lacking or ineffective. COTI's business is focused on the discovery and preclinical development of libraries of novel, optimized lead molecules for the treatment of specific cancers, HIV and multiple sclerosis. Currently, five targeted libraries of lead compounds are under active development: small cell lung cancer, HIV integrase inhibitors, acute adult leukemia, multiple sclerosis and colorectal cancer.
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