CALGARY, April 13, 2017 /CNW/ - Mosaic Capital Corporation ("Mosaic" or the "Company") (TSX-V Symbols: M and M.DB) is pleased to report that it has issued, as part of its long term incentive compensation program (the "Plan"), an aggregate of 56,176 restricted securities units ("RSUs") to its directors and executive officers (38,786 RSUs) and employees (17,390 RSUs), and an aggregate of 231,592 options to purchase Mosaic common shares ("Options") to its directors and executive officers (159,906 Options) and employees (71,686 Options). The Options have an exercise price of $8.74 and, subject to certain conditions, will expire 5 years from the date of grant. The RSUs and Options held by a Plan participant will vest yearly in three equal tranches starting in the Spring of 2018.
In accordance with the terms of Mosaic's Securities Based Compensation Plan, the exercise price of the Options is based on the 5 day volume weighted average closing price of the Company's common shares, ending April 12, 2017.
Reference should be made to Mosaic's most recent information circular for its 2016 annual general and special meeting of shareholders for a description of the Plan.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of established businesses which span a diverse range of industries and geographies. Mosaic's strategy is to create long-term value for its shareholders through accretive acquisitions, long-term portfolio ownership, sustained cash flows and organic portfolio growth. Mosaic achieves its objectives by maintaining financial discipline, acquiring businesses at attractive valuations, performing extensive acquisition due diligence, utilizing optimal transaction structuring and working closely with subsidiary businesses after acquisition.
SOURCE Mosaic Capital Corporation
For further information: Allan Fowler, Chief Financial Officer, Mosaic Capital Corporation, 400, 2424 - 4th Street SW, Calgary, AB, T2S 2T4, Tel: (403) 270-4663