Prodigy Ventures Inc. Announces Issuance of Options
22 Sep, 2015, 14:59 ET
TORONTO, Sept. 22, 2015 /CNW/ - Prodigy Ventures Inc. (formerly 71 Capital Corp.) (the "Corporation") (TSXV-PGV) today announced that pursuant to the Corporation's Stock Option Plan, it has issued options to acquire an aggregate of 1,875,000 common shares of the Corporation (the "Shares"). The exercise price of such options was established at $0.04, which is the closing price of the Shares on the TSX Venture Exchange on the day before their issuance. Of these options 1,675,000 were issued to officers and directors of the Corporation, 325,000 of the options vest on September 1, 2016, 550,000 vest on December 31, 2016 and 1,000,000 vest on October 1, 2015. 325,000 of the options expire on September 1, 2018, 550,000 expire on December 31, 2018 and 1,000,000 expire on September 21, 2020.
In addition to the above grants, the Corporation has, subject to receipt of applicable regulatory and shareholder approval, instituted a restricted voting share option plan. This plan will carry substantially the same terms as the Corporation's current common share Stock Option Plan but the options will be convertible into restricted voting shares. Subject to receipt of applicable regulatory and shareholder approval, the Corporation has issued an aggregate of 2,675,000 restricted share options. The exercise price of such options was also established at $0.04. Of these options 2,575,000 were issued to officers and directors of the Corporation. 325,000 of the options vest on September 1, 2016, 350,000 vest on December 31, 2016 and 2,000,000 vest on October 1, 2015. 325,000 of the options expire on September 1, 2018, 350,000 expire on December 31, 2018 and 2,000,000 expire on September 21, 2020.
About Prodigy Ventures Inc.
Prodigy Ventures is an innovation company that has combined an enterprise services business - Prodigy Labs - with a Venture Builder business. The two businesses work together to sell services and create new enterprise-grade platforms and apps using technologies such as mobile video, proximity, wearables and 3D & augmented reality.
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.
SOURCE Prodigy Ventures Inc.
For further information: PRODIGY VENTURES INC., Andrew Hilton, Chief Financial Officer, Prodigy Ventures Inc., [email protected]
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