TORONTO and VANCOUVER, Dec 8, 2014 /CNW/ - Tinkerine Studios Ltd. (TTD:TSXV; TKSTF:OTC Pink) Canada's leading manufacturer of desktop 3D printers and 3D printing educational content, today announced the engagement of Sophic Capital as its investor relations firm. Sophic Capital is a Toronto-based capital markets advisory firm for companies in the technology sector.
"Following the successful launch of the new DittoPro and our growing opportunity in the education market, I now feel it is time to increase the awareness of the Company in the public markets," said Martin Burian CFO of Tinkerine. "Sophic Capital and its proven expertise in both financial and technology markets make it an ideal fit to introduce new investors to Tinkerine which will ensure we meet our shareholder communications and capital markets goals."
"Tinkerine has proven its ability to compete in the fastest growing segment of the 3D printing market - the desktop prosumer portion. For a second year in the row, the Company has been recognized for best Overall Performance and value by the leading 3D printing magazine MAKE," said Sean Peasgood CEO of Sophic Capital. "We are excited to be working with Tinkerine to increase capital markets visibility at this very exciting time in the Company's growth phase."
Under the services agreement (the "Agreement") Sophic Capital will receive monthly fees of $6,000 and reimbursement of disbursements. In addition, Sophic Capital has been granted options to purchase 190,000 common shares of the Company (the "Options"), exercisable at a price of $0.25 per share until December 2, 2017. The Options will vest in equal quarterly installments over the next 12 months. The appointment of Sophic Capital is subject to the approval of the TSX Venture Exchange. The Agreement has an initial term of six months, which can be renewed for a further six month period upon the written consent of both the Company and Sophic Capital.
In other news, the Company has cancelled 150,000 options issued to a consultant June 17, 2014 which had an exercise price of $0.40 and a term of 5 years. On December 2, 2014 the Company issued 105,000 stock options to employees, such options having an exercise price of $0.25 until December 2, 2019 and vesting in accordance with the Company's stock option plan.
ABOUT TINKERINE STUDIOS LTD.
Tinkerine develops, manufactures and sells desktop 3D printers, content and software and for the consumer and education markets, the fastest growing segments of 3D printing. Current products include the award winning DittoPro, Ditto+ and Litto 3D printers, all acclaimed for their high performance and affordability. Tinkerine's 3D printers work seamlessly with its integrated 3D software to make printing intuitive and accessible to anyone. With a major focus on education, Tinkerine continues to position itself as one of the emerging leaders in the 3D printer market both in North America and abroad.
Tinkerine shares are listed on the TSXV, under the symbol TTD.V and TKSTF on the OTCPink. Martin Burian, Director, 604-288-8778.
Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Tinkerine assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Tinkerine. Additional information identifying risks and uncertainties is contained in Tinkerine's filings with the Canadian securities regulators available at www.sedar.com.
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: Tinkerine Studios Ltd.