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OTTAWA, Nov. 26, 2019 /CNW/ - Martello Technologies Group Inc. (TSXV: MTLO) ("Martello" or the "Company"), a leading provider of technology solutions that deliver clarity and control of complex IT environments deployed in thousands of locations around the world, announced today that it has granted an aggregate of 2,063,491 stock options to directors and officers of the Company. The stock option grant is in accordance with the Company's incentive stock option plan approved by Martello shareholders at the Company's Annual and Special Meeting on September 20, 2019 (the "Stock Option Plan"). Martello grants stock options as part of its strategy to incent and retain a strong team that will drive growth.
Each Option is exercisable into one common share in the capital of the Company (each, a "Share") at a price of $0.33 per Share, for a period of five years from the date of grant. The Options will vest in equal annual instalments over 36 months.
About Martello Technologies Group
Martello Technologies Group Inc. (TSXV: MTLO) is a technology company that provides clarity and control of complex IT infrastructures. The company develops products and solutions that monitor, manage and optimize the performance of real-time applications on networks, while giving IT teams and service providers control and visibility of their entire IT infrastructure. Martello's products include SD-WAN technology, network performance management software, and IT analytics software. Martello Technologies Group is a public company headquartered in Ottawa, Canada with offices in Montreal, Amsterdam, Paris, Dallas and New York. Learn more at http://www.martellotech.com
This press release does not constitute an offer of the securities of the Company for sale in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, (the "1933 Act") as amended, and may not be offered or sold within the United States absent registration or an exemption from registration under the 1933 Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.
SOURCE Martello Technologies Group