MONTREAL, May 28, 2014 /CNW Telbec/ - IOU Financial Inc. (TSXV: IOU)
("IOU Financial" or the "Company") today announced the grant of options
pursuant to its Stock Option Plan.
The Company granted options entitling two directors to acquire up to an
aggregate of 105,000 Class B Common Shares of the Corporation at an
exercise price of $0.60; these options have a term of five years from
the date of grant with one-third (1/3) vesting immediately and
one-third (1/3) vesting on each of the first and second anniversaries
of the date of grant.
The Company also granted options to Paradox Public Relations Inc.
("Paradox"), its strategic investor relations consultants, entitling
Paradox to acquire 100,000 Class B Common Shares of the Corporation at
an exercise price of $0.60; these options have a term of two years and
shall vest over a period of 12 months, at a rate of 25% at the end of
each three-month period.
About IOU Financial Inc.
IOU Financial, via its U.S. subsidiary, IOU Central, provides small
businesses throughout the U.S. access to the capital they need to seize
growth opportunities quickly. Typical customers include medical and
dental practices, grocery and retail stores, restaurant and hotel
franchisees and e-commerce companies. In a unique approach to lending,
IOU Central's advanced, automated application and approval system
accurately assesses applicants' financial realities, with an emphasis
on day-to-day cash flow trends. It makes loans of up to $100,000 to
qualified applicants within a few business days, with affordable
charges favorable to cash-flow management. IOU Central's speed and
transparency make it a trusted alternative to banks. To learn more
Forward Looking Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject
to numerous risks and uncertainties, certain of which are beyond the
control of IOU including, but not limited to, the impact of general
economic conditions, industry conditions, dependence upon regulatory
and shareholder approvals, the execution of definitive documentation
and the uncertainty of obtaining additional financing. Readers are
cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. IOU does not assume any
obligation to update or revise its forward-looking statements, whether
as a result of new information, future events, or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: IOU FINANCIAL INC.
For further information:
Chief Executive Officer
(514) 789-0694 ext. 225
Chief Financial Officer
(514) 789-0694 ext. 298