Brimm Energy makes announcement.VANCOUVER, British Columbia--(BUSINESS WIRE)--Sept. 20, 1996-- Under the stock option plan which was authorized by shareholders at the Corporation's Annual General Meeting held on June 24, 1996 the company is limited to authorizing the grant of 1,628,024 shares for director and employee options. In accordance with the provisions of the plan, the company has now agreed to grant options on 783,000 shares exercisable on or before September 20, 2001 at a price of US$1.24 per share, which price represents the average closing price of the company's shares for the 10 trading days immediately preceding September 20, 1996. The options granted may not be exercised until regulatory approval has been obtained. As previously reported on August 20, 1996 the company has received regulatory approval to pay a share bonus of 240,000 common shares at a deemed price of US$.50 per share based on the average market price for a two week period preceding August 15, 1996 as consideration for the provision of a guarantee on August 15, 1996 to its bank as collateral for a loan of US$600,000 to Wyoming Ethanol for the completion of the ethanol plant. The shares are subject to a one year hold period. About Brimm Energy Corp. Brimm Energy Corp. is engaged in the manufacturing and distributing of fuel grade ethanol for use as a gasoline additive Gasoline additives increase gasoline's octane rating or act as corrosion inhibitors or lubricators, thus allowing the use of higher compression ratios for greater efficiency and power, however some carry heavy environmental risks. in the Rocky Mountain and Northwestern regions of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Ethanol is an alcohol, primarily distilled from corn or other grains. A 10% ethanol blend with gasoline serves to reduce the carbon monoxide carbon monoxide, chemical compound, CO, a colorless, odorless, tasteless, extremely poisonous gas that is less dense than air under ordinary conditions. It is very slightly soluble in water and burns in air with a characteristic blue flame, producing carbon dioxide; and hydrocarbon particulate emissions of combustion by up to 25% while, at the same time, increase the octane rating Noun 1. octane rating - a measure of the antiknock properties of gasoline octane number quantity, measure, amount - how much there is or how many there are of something that you can quantify of the gasoline by up to three octane points. The effect of the higher octane allows regular gasoline blended with ethanol to be sold at a higher price as a mid-grade or premium gasoline premium gasoline n (US) → (gasolina) súper m premium gasoline premium (US) n → Super(benzin) nt premium gasoline and to meet strict emission requirements of the Clean Air Act. Ordinary gasoline engines can use ethanol-blended fuels without modification. Ethanol-blended gasolines are approved by all major domestic and foreign automobile manufacturers under the terms of their new car warranty agreements. The common stock of Brimm Energy Corp. trades in the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Small Cap Marketplace and its Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. is listed on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). . On behalf of the Board of Directors of Brimm Energy Corp. Daniel J. Brimm, President -0- Note to Editors: The contents of this news release have neither been approved or disapproved by the Vancouver Stock Exchange or NASDAQ. CONTACT: Brimm Energy Corp. Daniel J. Brimm, 604/684-4830 |
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