SAN DIEGO, CALIFORNIA--(Marketwired - May 7, 2013) - Gatorz Inc. (TSX VENTURE:GTZ) ("Gatorz" or the "Company") The Board of Directors of Gatorz is pleased to announce that the Company has granted stock options to certain of its officers and will be mailing its meeting materials this week for the Company's upcoming annual general and special meeting to be held on June 6, 2013.
On April 2, 2013, Robert Reynolds was granted 2,000,000 options to purchase common shares in the capital of the Company at an exercise price of C$0.10 in connection with his appointment as Chief Executive Officer of the Company. Such stock options will vest as follows: i) 500,000 stock options vesting immediately; ii) 500,000 stock options to vest evenly over 3 years; iii) 500,000 stock options to vest upon the Company reaching $30 million in revenue; and iv) 500,000 stock options to vest upon the Company reaching $40 million in revenue. All of theses stock options will expire 5 years from the date of grant. In addition, on April 26, 2013 Gatorz's Chief Financial Officer, Pat Westfall, was granted 400,000 stock options at an exercise price of C$0.10 to vest as follows: i) 100,000 stock options to vest over 1 year; ii) 200,000 stock options to vest upon the Company reaching $30 million in revenue; and iii) 100,000 stock options to vest upon the Company reaching $40 million in revenue, with all such options expiring 5 years from the date of grant.
Gatorz Inc. (www.gatorz.com) designs, develops, manufactures, and distributes performance eyewear, including sunglasses crafted from 7075 billet aircraft aluminum and premium injection-moulded Italian frames. Gatorz precision-built aluminum eyewear is proudly made in the USA, offering superior craftsmanship, performance, and durability. Gatorz proprietary technologies include the ability to customize the frame to the wearer's specific facial features. In addition, the Company's lens technology, TruRay Optics, offers a comprehensive assortment of ballistic impact-proof lenses which are 100% UV-blocking, optically correct, and distortion-free. Gatorz distribution markets include motorcycling, motorsports, skydiving, military, off-road, hunting & fishing, action sports, and youth lifestyle markets.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Gatorz Inc. assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Gatorz Inc.