VANCOUVER, April 26, 2019 /CNW/ - JEMTEC Inc. (TSX-V: JTC) (the "Company") announces that, Cyril Ing, a longstanding Jemtec Board Director, had exercised an option to purchase 57,805 shares of JEMTEC stock. Mr. Ing stated that he may sell some Jemtec shares in order to offset the costs associated with the exercise.
Pursuant to the Company's 2005 Plan (the Plan), the Board of Directors may, from time to time, grant options to directors, officers, employees and consultants of the Company. Each option entitles the holder to acquire one common share of the Company at such price and on such terms as determined by the Board in accordance with the Plan. The Options exercised by Mr. Ing were granted on December 3rd 2015 under the Plan at an exercise price of $0.345 and were fully vested on June 03, 2017.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.
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.
SOURCE Jemtec Inc.
For further information: Eric Caton, President, Phone (877) 929-4559, Fax (877) 929-4198, www.jemtec.ca