SAN FRANCISCO, Oct. 16, 2015 /CNW/ - Frankly Inc. (the "Company") (TSX VENTURE: TLK) a leading engagement and content management platform, today announced that the Company has granted a total of 147,745 stock options (the "Options") to Mr. Lou Schwartz, President of Frankly Media. The holder is allowed to acquire a common share of the Company for a period of ten years, subject to vesting requirements. The exercise price for the Options is C$1.43.
The initial vesting date of the 147,745 Options will be August 25, 2016, at which point 25% of the Options will vest and, thereafter 1/48th of the remaining Options will vest monthly during the three years beginning on the date until the applicable Options are fully vested.
Under the Company's Equity Incentive Plan (the "Plan"), the maximum aggregate number of shares that may be issued under the Plan shall not exceed 10% of the common shares issued and outstanding from time to time on a non-diluted basis. Including the grant of the Options, the Company will have 1,892,898 options issued and outstanding, representing approximately 8.6% of the Company's common shares outstanding.
About Frankly: Frankly provides a platform and first-in-class data capabilities for media companies, enterprises, and brands to grow their audience, build engagement, manage their content, and generate revenue across their digital properties. Frankly Media provides content management and advertising solutions to local news media in the United States, covering approximately 100 million monthly users. Frankly Platform is a white-labeled engagement platform that serves top brands and influencers along with Frankly Media customers. Founded in 2013, Frankly is headquartered in San Francisco, California, with offices in New York City. The Company is publicly traded under ticker TLK on Canada's TSX Venture Exchange. To learn more, please visit www.franklyinc.com or email firstname.lastname@example.org.
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.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Frankly and their respective businesses. Forward-looking events and circumstances discussed in this release, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the parties. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Frankly undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Frankly Inc.
For further information: Contact information: Conrad Seguin, NATIONAL Equicom, 416.586.1951, email@example.com or Frankly Inc., Steve Chung, Chief Executive Officer, 415.861.9797