CALGARY, Sept. 25, 2019 /CNW/ - Katipult Technology
Corp. (TSXV:FUND) ("Katipult" or the "Company")
announces that it has granted restricted share units (the
"RSUs") under the Company's Restricted Share Unit Plan (the
"RSU Plan") to each of its three independent
directors and its Board Secretary (the "RSU Recipients"). In
aggregate, 645,653 RSUs have been granted.
Each RSU represents the right to receive one common share of the
Company upon vesting.
All the RSUs will vest on September 1,
2020, subject to the terms and conditions set forth in the
RSU Plan.
These grants represent compensation to the RSU Recipients for
their respective service to the Company as Directors and as Board
Secretary for the upcoming year following the 2019 Annual General
Meeting held on August 12, 2019, and
as an incentive mechanism to foster the interest of such persons in
the success of the Company. For the previous year of service, the
Company granted in aggregate 483,870 RSUs to its Independent
Directors and Board Secretary, all of which vested on August 29, 2019. The Company does not
currently pay cash compensation to its Independent Directors or the
Board Secretary.
In addition, the Company announced it has granted options (the
"Options") under the Company's Option Plan (the "Option Plan") to
each of its three independent directors and its Board Secretary
(the "Option Recipients"). In aggregate, 1,800,000 Options
have been granted with a five year term. The Options are
exercisable for a period of five years, at a price of $0.29 per share, being the closing price of the
Company's common shares on the TSX Venture Exchange on September 23, 2019, the last trading prior to the
date of grant. All Options were granted in accordance with
the Option Plan.
About Katipult
Katipult (www.katipult.com) is a proprietary cloud-based
software infrastructure to digitize and automate private
placements, while providing best-of-breed standards for eliminating
transaction redundancy, enhancing investor experience, and
accelerating deal flow. We provide unparalleled adaptability for
regulatory compliance, asset structure, business model, and
localization requirements. We have compliant platforms in over 20
unique regulatory environments.
Cautionary Note Regarding Forward Looking Statements: Certain
disclosure in this release, including statements regarding the
increased or continued industry interest in the Company's product,
future growth constitute forward-looking statements. In making the
forward-looking statements in this release, the Company has applied
certain factors and assumptions that are based on the Company's
current beliefs as well as assumptions made by and information
currently available to the Company, including, but not limited to,
the Company's product will continue to operate as expected, and the
industry will continue to see value in the Company's product.
Although the Company considers these assumptions to be reasonable
based on information currently available to it, they may prove to
be incorrect, and the forward-looking statements in this release
are subject to numerous risks, uncertainties and other factors that
may cause future results to differ materially from those expressed
or implied in such forward-looking statements. Readers are
cautioned not to place undue reliance on forward-looking
statements. The Company does not intend, and expressly disclaims
any intention or obligation to, update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE Katipult Technology Corp.
