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Press
Press Releases 2005
Pethealth Inc.
Grants Stock Options
Oakville, ON. – March 15, 2005.
Pethealth Inc. ("Pethealth" or "the Company") (TSXV: PTZ) today
announced grants of stock options to certain directors of the
Company under the Employee Stock Option Plan previously approved by
the TSX Venture Exchange in December 2000. The Board of Directors of
Pethealth, at their regularly scheduled meeting, granted such
directors of the company an aggregate of 1,450,000 at an exercise
price of $0.195. In accordance with the Company’s Employee Stock
Option Plan, the options have a term of 10 years and vest over 3
years.
About Pethealth
Founded in February 1998, Pethealth is Canada's number one provider
of pet insurance and is number two in North America, currently
offering its PetCare Pet Insurance Programs in 10 provinces, 48
states plus Washington, D.C. In addition to the PetCare Pet
Insurance Programs, Pethealth offers its pet insurance programs
under a variety of names, including QuickCare, ShelterCare and Union
Plus Pet Insurance. In the United States, the PetCare Pet Insurance
Programs are underwritten by Lincoln General Insurance Company,
York, PA, and administered by PetCare Insurance Brokers Ltd. and
PetCare Insurance Agency, Ltd., both wholly owned subsidiaries of
the Company. In Canada, the Company's pet insurance is underwritten
by ING Novex, a member of ING Group, and Kingsway General Insurance
Company and offered through PetCare Insurance Brokers Ltd. In
addition, Pethealth, through its wholly owned subsidiaries Pethealth
Services Inc. and Pethealth Services (USA) Inc., distributes Allflex
pet microchip supplies to the companion animal market in North
America and operates the related pet recovery registry under the
trade name 24PetWatch.
During 2004, the Company completed two innovations:
PetPoint, the first web-hosted management software program for
animal welfare organizations in North America, which allows shelters
to easily offer the ShelterCare insurance and the 24PetWatch microchip programs electronically at the point of adoption; and EVE,
the first web-based claims adjustment software for veterinary
clinics in North America. This program, the first of its kind in the
pet insurance industry, allows claims to be adjusted online at the
veterinary clinic, thus simplifying the claims adjudication process.
Pethealth is based in Oakville, Ontario. To find out
more about Pethealth Inc. (TSXV: PTZ), visit the web site at
www.pethealthinc.com.
The TSX Venture Exchange Inc. has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release.
Statements contained in this news release, if not historical, are
forward-looking statements, which involve risks and uncertainties
that could cause actual results to differ materially from the
results described in forward-looking statements.
Not for dissemination in the United States of America or to United
States news wire services
For further information contact:
Mark Warren, President & C.E.O., Pethealth Inc. at (905) 842-2615
Glen Tennison, Chief Financial Officer, Pethealth Inc. at (905)
842-2615
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