TORONTO, June 30, 2015 /CNW/ - Frankly Inc. (the "Company") (TSX VENTURE: TLK) a next generation chat technology platform that brings dynamic conversation and direct consumer engagement to mobile app experiences, today announced that the Company has granted a total of 117,745 stock options (the "Options") to Mr. Christopher Haire, VP of Engineering. 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$3.07.
The initial vesting date of the 117,745 Options will be the first anniversary of the grant date, 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 first anniversary of the grant 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 1,834,422 options issued and outstanding, representing approximately 8.3% of the Company's common shares outstanding.
The Company is a next generation "chat-as-a-service" technology platform that brings dynamic conversation and direct consumer engagement to mobile app experiences. The Company aims to unlock the power of messaging for every platform by seamlessly enabling access to conversations that matter most to individuals and communities. Through the simple integration of our Chat SDK, the Company's technology can be inserted into a website or mobile application to provide a customizable version of the Company's messaging technology. The Company is currently working with many partners across several industries. The Company also offers Frankly Chat, a free, mobile messaging application for iOS and Android devices. Frankly Chat has over 2 million downloads, and is focused on user privacy by offering ephemeral messages with unsend capabilities.
Neither the 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.
Caution Regarding Forward Looking Information
This release includes forward-looking statements regarding the Company. Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements. 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 the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
To learn more about Frankly, please visit www.frankly.com.
SOURCE Frankly Inc.
For further information: Contact information: Conrad Seguin, TMX | Equicom, 416.815.0700 x251, [email protected]; or Frankly Inc., Steve Chung, Chief Executive Officer, 415.861.9797