TORONTO, Feb. 5, 2013 /CNW/ - BSM Technologies Inc. ("BSM" or the
"Company") (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced that on January
15, 2013 the Company granted a total of 1,280,500 stock options to
directors and officers of the Company. Each stock option allows the
holder to acquire a common share of the Company at an exercise price of
$1.45 for a period of five years, subject to vesting requirements. The
Company's common shares closed at $1.45 on the TSX Venture Exchange on
January 15, 2013.
Out of the total number of stock options granted, 680,500 were reserved
for the Board of Directors and the executive team. Of those stock
options, 510,375 vested on January 15, 2013, and the remainder will
vest evenly six, 12 and 18 months following January 15, 2013. The
remaining 600,000 stock options were granted to employees of the
Company, of which 150,000 vested on January 15, 2013, with the
remainder vesting evenly six, 12 and 18 months following January 15,
Under the Company's Stock Option Plan, the Company has a total of
2,250,000 common shares reserved for the issuance of stock options,
representing approximately 7.9% of the Company's 28,587,212 common
shares outstanding. Including the January 15, 2013 option grant, the
Company will have 2,195,436 options issued and outstanding,
representing approximately 7.7% of the Company's common shares
About BSM Technologies (bsmwireless.com)
BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading
provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial,
government, and law enforcement organizations who manage and operate
diverse assets and large fleets, and who seek to enhance customer
service, improve the safety of their drivers and vehicles, and lower business costs.
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. No
stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
For more information, please visit http://www.bsmwireless.com
SOURCE: BSM Technologies Inc.
For further information:
President & CEO
BSM Technologies Inc.
(416) 815-0700 ext. 264