WASHINGTON, DC--(Marketwired - May 16, 2013) - ePals Corporation ( TSX VENTURE : SLN ) (the "Company"), an education media company and leading safe social learning network, today announced that the board of directors has approved the grant of an aggregate of 1,300,000 restricted share units and an aggregate of 1,766,000 stock options to certain employees and a consultant, including Katya Andresen who the Company announced today will succeed Miles Gilburne as Chief Executive Officer. Ms. Andresen was awarded 1,250,000 restricted share units, which vest at various times over the next three years, and granted stock options to acquire an aggregate of 1,250,000 restricted voting common shares of the Company, which vest at various times over the next four years. All restricted share units described above are redeemable, once vested, for an equal number of restricted voting common shares of the Company and all stock options are exercisable, once vested, at a price of C$0.12 per share for a period of 10 years.
About ePals Corporation
ePals Corporation ( TSX VENTURE : SLN ) is an education media company and leading provider of safe social learning network. Focused on the K-12 market, ePals offers elementary and secondary school administrators, teachers, students and parents worldwide a safe and secure platform for building educational communities, providing quality digital content and facilitating collaboration for effective 21st century learning. ePals' award-winning products include: the ePals Global Community™; SchoolMail®365; LearningSpace®; In2Books®, a common core eMentoring program that builds reading, writing and critical thinking skills; and popular children's educational publishing brands including Cricket® and Cobblestone®. ePals customers and partners include the International Baccalaureate, Microsoft Corporation, Dell Inc., IBM Corp., National Geographic and leading school districts across the United States and globally. ePals serves approximately 1 million classrooms and reaches millions of teachers, students and parents in approximately 200 countries and territories. For the ePals Global Community, visit www.epals.com. Corporate information is available at www.corp.epals.com.
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