MISSISSAUGA, ONTARIO--(Marketwire - October 17, 2008) - On October 15, 2007, the board of directors of Covalon Technologies Ltd. ("Covalon" or the "Company") (TSX VENTURE: COV) granted an aggregate of 240,000 options to purchase common shares to certain officers and employees as part of the Company's Employee Bonus Plan. The options have an exercise price of $0.75 per share, and expire on the fifth anniversary of the date of grant. Also on October 15, the board of directors granted an aggregate of 200,000 options to certain of its officers at a price of $0.75 and expiring on the second anniversary of the date of grant.
