ChondroGene Announces the Issuance of Stock Options
TORONTO, CANADA (September 20, 2006): ChondroGene Limited (TSX Venture: CDG) announced today that the Board of Directors approved the granting of 873,414 stock options to directors, officers, employees and consultants. The options granted to employees and consultants are exercisable at $1.16 per share for a period of 5 years from the date of grant. The options granted to directors and officers are exercisable at $1.55 per share for a period of 5 years from the date of the grant. Stock options enhance the Company’s ability to attract and retain talented people by providing compensation incentives to employees, directors, officers and consultants for future services provided to ChondroGene.
Forward-Looking Statements
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.
