MISSISSAUGA, ONTARIO--(CCNMatthews - July 7, 2005) - On 9 June, 2005, the board of directors of Covalon Technologies Ltd. (TSX VENTURE:COV) granted 445,000 options to purchase common shares to certain of its employees and consultants. No options were awarded to officers or directors at this time. The options have an exercise price of $0.70 per share and expire on the fifth anniversary of the date of grant.
