CALGARY, ALBERTA--(CCNMatthews - Nov. 9, 2005) - As part of its compensation program for Directors, CanaDream Corporation (TSX VENTURE:CDN) announces that, on November 4, 2005, it granted options to Directors on 140,000 shares of the Company at a price of $0.33 each. Details are as follows:
Todd Nicholson Director (newly elected) 100,000 options at $0.33 Scott Graham Director 10,000 options at $0.33 Brian Gronberg Director 10,000 options at $0.33 Blaine Nicholson Director 10,000 options at $0.33 Gerry Wood Director 10,000 options at $0.33
This grant increases the number of optioned shares outstanding to directors, officers and employees to 1,378,500. The compensation option that was outstanding on 796,000 shares to the Company's agent in respect of the Convertible Debenture that was issued in February, 2003 was not exercised on or prior to August 27, 2005 and accordingly, it expired. Under the terms of its Stock Option Plan, CanaDream is permitted to issue options on up to 3,321,408 shares to Directors, officers, employees and consultants of the Company.
CanaDream is a Canadian tourism company that is utilizing its proprietary business-to-business web-enabled system, less than www.canadasbest.com greater than , and its business-to-consumer on-line Internet reservation system, less than www.canadream.com greater than , to operate and expand its network of RV rental locations in Canada. CanaDream maintains six Company-operated locations in Calgary, Vancouver, Whitehorse, Toronto, Montreal, and Halifax. The Company is also leveraging its proprietary technology to build a franchised network of associate dealers that are fully interconnected to CanaDream's e-commerce systems. CanaDream currently has three associate dealer franchisees in Edmonton Alberta and Kelowna and Victoria, British Columbia.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. Brian Gronberg
President & CEO