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TORONTO, Sept. 24, 2021 /CNW/ - Cliffside Capital
Ltd. (the "Company") (TSXV: CEP) announces that effective
today, September 24, 2021, the
Company has granted an aggregate of 2,550,000 stock options
("Options") of the Company to its directors and
officers under the Company's amended and restated stock option plan
dated February 3, 2021 (the
"Amended Plan"). The goal of the grant of Options is
to align the interests of the Company's directors and officers with
those of shareholders. Each of the Options has an exercise price of
$0.20 and a five-year term. Of the
Options granted, 637,500 Options vest immediately and the remaining
1,912,500 Options shall vest in equal amounts over the next three
years. Following the grant of Options, there are 7,450,000 Options
outstanding. There are currently 97,266,667 common shares of the
Company issued and outstanding.
The Company intends to seek shareholder approval for the Amended
Plan at the next annual and special meeting of shareholders of the
Company which is expected to be held on November 25, 2021. Any options granted under the
Amended Plan prior to receipt of shareholder approval of the
Amended Plan, including the Options referenced herein, may not be
exercised by the holders thereof until such approval has been
obtained.
About Cliffside
Cliffside is focused on investing in strategic partnerships with
parties who have specialized expertise and a proven track record in
originating and servicing loans and similar types of financial
assets. Cliffside's strategy is to generate revenue as an investor,
affording its shareholders an opportunity to invest in the growing
alternative lending sector with the potential for attractive yields
and minimal operational risk while earning a reliable total return.
For more information, see Cliffside's filings on SEDAR at
www.sedar.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 Cliffside Capital Ltd.