CALGARY, Jan. 2, 2020 /CNW/ - Mr. Brock Murray and Mr. Pheak Meas (the "Grantors") hereby
announce that they have each granted options (the "Options")
to acquire 1,750,000 common shares (the "Common Shares") in
the capital of Katipult Technology Corp. (the "Company")
from their personal holdings to Mr. Gord Breese (the
"Optionee"), the newly appointed Chief Executive Officer and
Director of the Company.
The Options will be exercisable at a price of $0.20 per Common Share for a period of five years
from the date of grant, vesting in equal portions annually on
December 31, 2020 through 2023,
resulting, upon full exercise of the Options, in $350,000 of aggregate consideration to each
Grantor.
Immediately prior to closing of the grant, each of the Grantors
held 18,375,000 Common Shares, representing approximately 26.8%,
individually, of the current issued and outstanding Common
Shares. Assuming exercise of all of the Options by the
Optionee, each of the Grantors will hold 16,625,000 Common Shares,
representing approximately 24.2%, individually, of the current
issued and outstanding Common Shares. Assuming full exercise
of the options described in the press release of the Company dated
September 23, 2019, each of the
Grantors will hold 14,000,000 Common Shares, representing
approximately 20.1%, individually, of the current issued and
outstanding Common Shares.
Mr. Murray and Mr. Meas are granting the Options in support of
the continued development of the Company. Notwithstanding the
foregoing, each of the Grantors may, from time to time, acquire
additional securities of the Company, dispose of some or all of the
existing or additional securities held or to be held, or, may
continue to hold their current position.
This News Release is issued pursuant to National Instrument
62-103 - Early Warning System and Related Takeover Bids and
Insider Reporting Issues of the Canadian Securities
Administrators, which also requires an early warning report to be
filed with the applicable securities regulators containing
additional information with respect to the foregoing matters. Such
early warning reports will be filed within the timelines required
by applicable securities laws and made available on the Company's
SEDAR profile.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Brock Murray, c/o the
Company, 1600, 144 – 4th Avenue S.W., Calgary, Alberta T2P 3N4
