News
NEWLOOK SUBSIDIARY ANNOUNCES STOCK OPTION PLAN
TORONTO, ONTARIO, October 23, 2008 - Newlook Industries Corp. (TSXV: NLI) ("Newlook" or "the Company") has announced today that its majority owned subsidiary, Wireless Age Communications, Inc. (OTCBB: WLSA), ("Wireless Age"), has granted 2.5 million options under a stock option plan.
The options were granted to officers, directors and employees of the Company and its operating subsidiaries. They carry a three-year term and vest in thirds—one-third immediately, with another third on January 1, 2009 and the final third on January 1, 2010 and are exercisable at $0.25 per share.
The plan is subject to shareholder and regulatory approval.
Newlook Industries Corp., headquartered in Toronto, Ontario is a publicly traded company listed on the TSX Venture Exchange. For more information please call (416) 477-5656 or refer to www.sedar.com.
The management of the company, who take full responsibility for its content, prepared this press release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements relating to future events and results that are based on Newlook's current expectations. These statements involve risks and uncertainties including, without limitation, Newlook's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
John G. Simmonds
Chief Executive Officer
Newlook Industries Corp.
Telephone: (416) 477-5656 x301
