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Biorem shareholders approve option plan amendment

^{Published on 2009-05-11 15:24:07, Last Modified on 2009-05-11 15:24:51 - Market Wire}
 

 GUELPH, ON, May 11 /CNW/ - BIOREM Inc. (TSXV:BRM) announces that shareholders have approved amendments to its option plan to change the plan from a 10% "rolling plan" to a fixed plan with a total of 1,796,745 common shares reserved for options grants. Given previous options grants the amendment to the plan increases common shares available for new option grants by approximately 600,000 shares. In addition, shareholders have approved modifications to the limits on granting of options to directors and officers. Grants to officers as a group are no longer subject to a 10% of outstanding shares limit, but grants to non-officer directors have been restricted to less than 3% of outstanding shares. The amendments to the option plan are subject to acceptance by the TSX Venture Exchange. In addition, Biorem Inc. announces that it has granted options to purchase a total of 52,000 common shares to its non-officer directors in accordance with its stock option plan which was recently amended by the shareholders. The options were granted at an exercise price of $0.33 per share and have an expiry date of ten years ending May 5, 2019. About BIOREM Inc. BIOREM manufactures Biosorbens(R) biofilter media and is a leading supplier of biofilters and biotrickling for air pollution control in municipal and industrial applications, including BIOCUBE(R) modular units and Mytilus(R) biotrickling filters. With over 600 installed systems and over a decade of experience, the Company's products are the technology of choice for odor control at wastewater treatment plants across North America. Additional information on BIOREM is also available at our web site at [ www.biorem.biz ]. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release. %SEDAR: 00020304E 

For further information: Ed Corbett, Chief Financial Officer, BIOREM Technologies Inc., [ ecorbett@biorem.biz ], Tel: (519) 767-9100 x275