Wi2Wi Announces Granting of Options
June 26 2013 - 7:00AM
Business Wire
Wi2Wi Corporation announces that it has recently granted options
to Directors, Management and Staff of the Corporation. A total of
6,843,930 options were granted. Of these 4,483,930 were granted to
Directors, 1,050,000 were granted to Senior Management and
1,310,000 were granted to other staff members and consultants.
The grant price was at $0.195 per option, being the closing
trading price of the Corporation’s shares on June 18, 2013 except
for 700,000 options issued previously to a Director at a price of
$0.20 per option.
Director options vest 50% on the grant date with the balance
vesting on the first anniversary except for 500,000 options granted
to the CEO, which vest in the same manner as for Senior Management
and Staff (the “Staff Options”), and the 700,000 options referred
to above, which vested immediately on the grant date.
Staff options vest in equal proportions over 48 months.
All options have a term of seven years after the grant date.
In addition, a total of 800,000 options previously granted by
International Sovereign Energy Corp. to two directors were
cancelled.
The total number of options now outstanding increased from
12,031,698 to 18,075,628.
About Wi2Wi Corporation:
Wi2Wi designs, manufactures and markets miniaturized embedded
wireless connectivity solutions (incorporating both hardware and
software) for premium industrial/medical, smart-home/smart
building and government markets worldwide. These products and value
added services provide highly integrated, multifunctional wireless
sub systems for mobile applications of all forms for mobile
devises.
For further information, please contact:
John Lokker, CA, CFEChief Financial Officer(408) - 416-4221
Forward-Looking Statements: This news release contains certain
forward-looking statements, including management's assessment of
future plans and operations, and the timing thereof, that involve
substantial known and unknown risks and uncertainties, certain of
which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with
the ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, the
United States and overseas, industry conditions, reliance on
industry partners, reliance on third party distributors and sales
representatives, protection of intellectual property and
proprietary rights, reliance on information technology
systems,length of sales cycle, potential defects in products,
changes in laws, increased competition, lack of availability of
qualified personnel or management, fluctuations in foreign exchange
or interest rate and stock market volatility. The Company's actual
results, performance or achievements could differ materially from
those expressed in, or implied by, these forward-looking statements
and, accordingly, no assurances can be given that any of the events
anticipated by the forward-looking statements will transpire or
occur, or if any of them do so, what benefits the Company will
derive there from. Readers are cautioned that the foregoing list of
factors is not exhaustive. Additional information on these and
other factors that could affect the Company's operations and
financial results are included in reports on file with Canadian
securities regulatory authorities and may be accessed through the
SEDAR website (http://www.sedar.com/).
This news release contains "forward-looking statements" within
the meaning of applicable securities laws relating to, among other
things, certain anticipated financial results, and anticipated
market growth and potential corporate developments of the Company.
Readers are cautioned not to place undue reliance on
forward-looking statements. Actual results and developments may
differ materially from those contemplated by these statements.
Factors that could cause actual results to differ materially
include, but are not limited to, changes in Wi2Wi's business,
general business, economic and competitive uncertainties.
Forward-looking statements are made based on management's
beliefs, estimates and opinions on the date the statements are made
and the Company undertakes no obligation to update forward-looking
statements and if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
All subsequent forward-looking statements, whether written or oral,
attributable to the Company or persons acting on its behalf are
expressly qualified in their entirety by these cautionary
statements. Furthermore, the forward-looking statements contained
in this news release are made as at the date of this news release
and the Company does not undertake any obligation to update
publicly or to revise any of the included forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable securities
laws.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Common Shares: 81,545,519
Wi2Wi CorporationJohn Lokker, CA, CFEChief Financial
Officer408-416-4221
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