TSX Venture Exchange: VSI
VANCOUVER, April 4, 2014 /CNW/ - VendTek Systems Inc. (VSI - TSX Venture) (the "Company"), a developer and licensor of software for the global prepaid and financial services markets, announced that it has issued an aggregate of 1,037,500 options to certain members of its board of directors and its management as compensation for their services as directors of the Company pursuant to the Company's Incentive Stock Option Plan, subject to approval of the TSX Venture Exchange.
Each option permits the holder to acquire a common share of the Company for $0.10. One-quarter of the options granted to each individual vest on each of April 3, 2015, April 3, 2016, April 3, 2017 and April 3, 2018. The options expire on April 3, 2019.
VendTek develops and licenses automated transaction system software and supporting technologies. VendTek's customers, subsidiaries and its Now Prepay division use e-Fresh™ software to build electronic, prepaid services networks that enable consumers to purchase prepaid products and services via POS and self-serve terminals connected to a central server. This system creates significant value through improved efficiencies compared to a traditional distribution model. e-Fresh™ reduces shrinkage and inventory requirements for vendors while improving consumer access to prepaid products and services by completely eliminating physical cards and vouchers. VendTek has deployed its software around the world including Canada, United States, Asia, the Middle East and Africa. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.
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: VendTek Systems Inc.
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