MONTREAL, Dec. 20, 2017 (GLOBE NEWSWIRE) -- IBEX Technologies Inc. (“IBEX” or the “Company”) (TSX-V:IBT) announces that on December 19, 2017, its Board of Directors granted an aggregate of 675,000 stock options to nine of IBEX’s directors and officers.  The stock options have an exercise price of $0.20, representing the closing price of IBEX’s shares on the TSX Venture Exchange on December 18, 2017, and a term of ten years.  The stock options were granted under IBEX’s Incentive Stock Option Plan.

IBEX also announces that its Board of Directors amended the Incentive Stock Option Plan on December 14, 2017, so as to increase the number of shares that can be issued thereunder to 2,400,000 shares, equal to approximately 9.7% of IBEX’s 24,703,244 issued and outstanding shares.  The amendment to the Incentive Stock Option Plan is subject to approval of the TSX Venture Exchange.  The 675,000 stock options may not be exercised until such time, if any, as IBEX acquires approval from the Exchange.

ABOUT IBEX

IBEX manufactures and markets proteins for biomedical use through its wholly owned subsidiaries IBEX Pharmaceuticals Inc. (Montreal, QC) and Bio-Research Products, Inc. (North Liberty, IA). IBEX Pharmaceuticals also manufactures and markets a series of arthritis assays which are widely used in osteoarthritis research.

For more information, please visit the Company’s website at www.ibex.ca.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Safe Harbor Statement

All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, as they are based on the current assessment or expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which IBEX does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. IBEX disclaims any intention or obligation to update these statements, except if required by applicable laws.

In addition to the risk factors identified above, IBEX is, and has been in the past, heavily reliant on three products and five customers, the loss of any of which could have a material effect on its profitability.

Contact:

Paul Baehr
President & CEO
IBEX Technologies Inc.
514-344-4004 x 143