VANCOUVER, Dec. 21 /PRNewswire-FirstCall/ - SMARTCOOL SYSTEMS INC.
(the "Corporation") is pleased to announce that an aggregate of 1,920,000 stock options previously granted under the Corporation's Stock Option Plan to directors, officers and employees have been amended to increase the exercise price of the options, as detailed below:
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Number
of Stock Original New
Date Options Exercise Exercise Expiry Date
of Grant Granted Price Price of Options
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November 1, 2004 275,000 $0.21 $0.40 November 1, 2009
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November 4, 2005 400,000 $0.27 $0.36 November 4, 2010
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December 22, 2005 250,000 $0.23 $0.28 December 22, 2010
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July 11, 2006 100,000 $0.30 $0.40 July 11, 2011
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October 30, 2006 185,000 $0.40 $0.48 October 30, 2011
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November 2, 2006 200,000 $0.48 $0.60 November 2, 2011
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November 21, 2006 500,000 $0.72 $0.90 November 21, 2011
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May 14, 2007 10,000 $0.88 $1.10 May 14, 2012
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Total 1,920,000
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All other terms and conditions remain constant.
About Smartcool Systems Inc.:
Smartcool Systems Inc. is an advanced energy savings solutions company specializing in energy and cost reduction technologies for commercial and retail businesses. The company's wholly owned subsidiary, SmartCool International Inc., is the owner, developer, manufacturer and worldwide distributor of the Energy Saving Module (ESM(TM)). This green technology reduces the electricity consumption (kWh) and maximum demand (kW) of air conditioning and refrigeration compressors. Rather than replacing existing equipment, the ESM(TM) works in conjunction with existing controls in order to ensure that compressors work at maximum efficiency, while maintaining preset temperature levels and without causing over-cycling. Rising global energy demand is resulting in significant increases in energy prices. Environmental concerns are causing both government and industry to re-examine the way they do business. SmartCool provides companies with solutions to address the growing pressure to reduce energy costs, increase profits and reduce green house gas emissions. For more information, please visit www.smartcool.net.
ON BEHALF OF THE BOARD
"Alan Thompson"
Chief Financial Officer
The TSXVenture Exchange has not reviewed nor does it accept
responsibility for the adequacy or accuracy of this press release.
CONTACT: Allan Thompson, Tel: (604) 669-1388, or 1-888-669-1388 or allant@smartcool.net