VANCOUVER, Jan. 22, 2018 /CNW/ - Neptune Dash Technologies Corp. ("Neptune Dash" or the "Company") (TSX.V: DASH) is pleased to announce that it has commenced trading on the TSX Venture Exchange ("TSXV") under the symbol DASH following the issuance by the TSXV of its bulletin (the "Final Bulletin") granting final approval of for the Company's listing on January 19, 2018.
New Board and Management of the Company
The board of directors of the Company is comprised of Cale Moodie, Troy Wong, Guy Halford-Thompson, Jackson Warren and Dario Meli. Management of the Company is comprised of Cale Moodie, President and Chief Executive Officer, Troy Wong, Chief Financial Officer and Secretary, and Kalle Radage, Chief Operating Officer. Biographies of the new board members and management are included in the Company's Form 2B Listing Application dated January 15, 2018 available on SEDAR at www.sedar.com.
Escrowed Securities and Other Resale Restrictions
In accordance with the policies of the TSXV, an aggregate of 26,593,329 common shares of the Company (the "Escrowed Shares") will be held in escrow pursuant to an escrow agreement (the "Escrow Agreement") among the Company, TSX Trust Company, as escrow agent, and certain securityholders of the Company. The Escrowed Shares will be released from escrow as follows: 25% upon issuance of the Final Bulletin; 25% on the date that is six months after the date of the Final Bulletin; 25% on the date that is 12 months after the date of the Final Bulletin; and 25% on the date that is 18 months after the date of the Final Bulletin. Also in accordance with the policies of the TSXV, an aggregate of 10,700,000 common shares of the Company will be subject to seed share resale restrictions over the course of one year, such that 20% are released upon the Final Bulletin and 20% released every three months thereafter.
Restricted Share Unit Awards and Stock Option Grants
The Company also announces award of an aggregate of 1,580,000 restricted share units ("RSUs") under the Company's share compensation plan to directors, officers, employees and consultants of the Company. Each RSU represents a right to receive one common share of the Company, following the vesting of such restricted share units over a three year period. The RSUs are exercisable for 3 years.
The Company has also granted an aggregate of 6,075,000 stock options under the Company's share compensation plan to directors, officers, employees and consultants of the Company with an exercise price of $0.50 per stock option, exercisable for a period of ten years from the date of grant.
About Neptune Dash Technologies Corp.
Neptune Dash exclusively builds and operates Dash Masternodes and invests in Dash blockchain related technologies. Dash is a digital currency created to address Bitcoin's scaling challenges. Dash Masternodes facilitate the following functions on the Dash blockchain:
a. facilitating private, peer-to-peer transactions directly between parties;
b. serving as a governance function and voting on treasury disbursements of the Dash block-reward allocated to the Dash DAO (Decentralized Autonomous Organization); and
c. facilitating transactions that are processed near instantly on the Dash blockchain (versus the target three minute block time for average Dash transactions).
SOURCE Neptune Dash Technologies Corp.
For further information: Neptune Dash Technologies Corp., Cale Moodie, President and CEO, 620 - 1155 West Pender Street, Vancouver, BC V6E 2P4, Phone: (604) 319-6955, Email: [email protected]