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CALGARY, June 4, 2019 /CNW/ - Sylogist Ltd. (TSXV:SYZ) ("Sylogist" or the "Company"), is pleased to announce that senior executives have exercised 1,508,900 stock options, all of which were to expire at the end of June, 2019. More than $13.7 million was paid to the Company's treasury upon exercise. As the Company is in the process of reviewing its equity compensation plan, as previously announced on May 1, 2019, replacement options or other equity incentives to executives have yet to be determined.
Subsequent to their exercise of stock options, the senior executives sold 1.4 million shares in the market, holding the remainder for investment purposes.
Sylogist is a technology innovation company that, through strategic acquisitions, investments and operations management, provides intellectual property solutions to a wide range of Public Sector customers. We are an industry-leading publisher of mission-critical software products that satisfy the unique and sophisticated functionality requirements of Public Sector entities, including nonprofit organizations, educational institutions and government agencies, as well as public compliance driven and funded businesses. Our Company delivers highly scalable, multi-language, multi-currency software solutions, which serve the needs of an international clientele.
The Company's stock is traded on the TSX Venture Exchange under the symbol SYZ. Information about Sylogist can be found at http://www.sylogist.com.
- 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 Sylogist Ltd.
For further information: Jim Wilson, President and CEO or Xavier Shorter, Vice President, Finance and CFO or Andre Drouillard, Vice President, Business Development and Investor Relations; Sylogist Ltd., (403) 266-4808