WASHINGTON, DC--(Marketwired - Feb 10, 2014) - ePals Corporation (
The Company also announces that its board of directors has approved the grant of stock options and restricted share units to certain directors, officers, employees and consultants. The board approved the grant of stock options to acquire an aggregate of 10,990,000 common shares, comprised of options to acquire 10,905,270 restricted voting common shares and 84,730 voting common shares, and awarded restricted share units which are redeemable for 1,050,000 common shares, consisting of 580,000 restricted voting common shares and 470,000 voting common shares. The stock options are subject to shareholder approval as well as annual approval by shareholders of the Company's incentive stock option plan at its next annual meeting of shareholders. All stock options are exercisable, once vested and approved by shareholders, at a price of C$0.05 per share for a period of 10 years from the date of grant. The common shares issuable upon redemption of the restricted share units and the exercise of certain stock options will be subject to resale restrictions for a period of four months from the grant date.
About ePals Corporation
ePals Corporation (
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Forward Looking Statements
This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.