TORONTO, May 27, 2011 /CNW/ - Telehop Communications Inc. announces that
Lawrence Cyna, Michael Boyd, Jim Estill, Theo Luykenaar and Mitchell
Blum, the five directors proposed by Management were reelected at the
annual shareholders meeting held on May 25th and attended by
shareholders and guests. Lawrence Cyna, Chairman of the Board, thanked
all shareholders for their continued support and welcomed Jim Estill as
the newest Board member along with welcoming Rajiv Jagota as Telehop's
new President and CEO. At the meeting, Mr. Jagota gave management's
strategy for Telehop's growth and vision, "To be the number one
provider of VoIP Home Phone, Internet, and Long Distance services to
the ethnic communities across Canada".
A Mergers and Acquisition Committee was also established with Jim Estill
appointed as its chairman.
The Company also announces the issuance of stock options in the amount
of 25,000 options for each returning director, and 100,000 options for
Mr. Estill who joined the board in April 2011. An additional 25,000
options are being issued to an officer of the company per the
employment agreement. The total number of options issued is 225,000,
and the exercise price is set at $0.10 per share, which is slightly
higher than the closing price on May 25, 2011.
About Telehop Communications
Telehop Communications is a Canadian Radio-television and
Telecommunications Commission ("CRTC") licensed Class "A"
telecommunications carrier based in Ontario. Telehop offers a variety
of telecommunications services to consumers including casual calling,
long distance, VoIP Home Phone, and Internet. Its shares are listed on
the TSX-Venture Exchange under the symbol HOP.
Certain statements in this press release may constitute "forward looking
statements" and involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements of the Corporation to be materially different from any
performance or achievement expressed or implied by such "forward
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release
SOURCE Telehop Communications Inc.
For further information:
Rajiv Jagota at 416-494-4490