Rankin Technologies Inc.: Announcement.
MONTREAL--(BUSINESS WIRE)--July 21, 2000
Rankin Technologies Inc.(CDNX:BMG.) today announced that it will seek disinterested shareholder approval at its Annual Meeting to be held October 19, 2000 for prior grants of options to its employees, directors and service providers to purchase 685,000 Class "A" shares of the Company.
These options were granted between June 1, 1999 and March 8, 2000 at exercise prices ranging from $0.78 to $5.00. 530,000 of these options expire August 2, 2001 and the balance expire March 8, 2005. If such shareholder approval is not obtained, the options will be cancelled and considered as not having been granted.
Rankin Technologies Inc. markets and distributes the "Boomerang", a proprietary product utilizing technology patented by the Company. The Boomerang is the central device in a cellular-based asset tracking system capable of locating stolen automobiles, heavy equipment and valuable objects. Utilizing the cellular systems of major regional telecommunications companies, the Boomerang is capable of functioning indoors, underground, inside metal freight containers and in many other previously inaccessible locations.
Boomerang is a registered trademark of Rankin Technologies Inc. Its headquarters and production facilities are located in Montreal, Quebec. Rankin products are sold and distributed in the Provinces of Quebec, Ontario and British Columbia.
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|Date:||Jul 21, 2000|
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