Entrec Corporation Grants Restricted Shares
SPRUCE GROVE, ALBERTA--(Marketwired - Jan 2, 2014) - ENTREC Corporation (TSX VENTURE:ENT) (the "Corporation" or "ENTREC") advises that it has granted 1,368,504 restricted shares (the "Restricted Shares") to its employees, officers and directors, pursuant to the terms of ENTREC's Restricted Share Plan. 71,004 of the Restricted Shares were granted to directors and 64,000 of the Restricted Shares were granted to officers of the Corporation. With the exception of Restricted Shares granted to non-employee directors, which vest immediately upon grant, the Restricted Shares vest at 20% per year over 5 years commencing January 1, 2015. All of the Restricted Shares are due to expire on January 1, 2024.
"We are firm believers that employee ownership is critical to our overall success," said John M. Stevens, ENTREC's President and COO. "We differentiate ourselves from other companies in our industry by allowing our key employees to become owners. Employee ownership provides employees with a vested interest in ENTREC's future and allows them to fully participate in the benefits of our success."
Further details regarding the Restricted Share Plan can be found in the information circular of the Corporation dated March 12, 2013 which can be found at www.sedar.com.
About ENTREC
ENTREC is a leading provider of heavy lift and heavy haul services with offerings encompassing crane services, heavy haul transportation, engineering, logistics and support. ENTREC provides these services to the oil and natural gas, construction, petrochemical, mining and power generation industries. ENTREC's common shares trade on the TSX Venture Exchange under the trading symbol "ENT".
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
