The Company also announces that today it has granted options to certain directors, officers and employees to purchase 1,350,000 common shares of the Company, each at a strike price of $0.20 and having a term of five years. One-third of the options vested upon grant, an additional third will vest on the first anniversary of the date of grant, and the remaining third will vest on the second anniversary of the date of grant.
Red Tiger’s stock option plan permits 9% of the Company’s issued and outstanding shares to be reserved for issuance. As of today, an aggregate of 2,087,500 shares are reserved for issuance pursuant to options granted and outstanding under the stock option plan.
For further information, please contact:
20 Toronto Street, 12th Floor, Toronto, ON, M5C 2B8
Dr. Thomas Utter
President and CEO
Tel.: +1 52 662 311 8839
CFO and Secretary
Tel.: 416-637-1517 x 107
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