NEW
YORK, Aug. 23, 2022 /CNW/ - MiMedia Holdings
Ltd. (TSXV: MIM or the "Company") today announced
that its board of directors has approved the grant of incentive
stock options (the "Options") to certain directors, officers
and employees to acquire a total of 5,680,000 common shares in the
capital of the Company at an exercise price of $0.25, being the closing price of the Company's
common shares on the TSX Venture Exchange ("TSX-V") on
August 22, 2022. All Options were
granted pursuant to the Company's 10% rolling stock option plan
(the "Plan") and are subject to the terms of the Plan, the
applicable grant agreements and the requirements of the TSX-V. The
Options are exercisable for a five-year term expiring August 23, 2027. The Options will vest in two
categories; 4,970,000 options will vest quarterly over a three-year
period and 710,000 options will vest quarterly over 12 months.
About MiMedia
MiMedia Holdings Inc provides a next-generation consumer
cloud platform that enables all types of personal media to be
secured in the cloud, accessed seamlessly at any time, across all
devices and on all operating systems. The company's platform
differentiates with its rich media experience, robust organization
tools, private sharing capabilities and features that drive content
re-engagement. MiMedia partners with smartphone makers and telecom
carriers globally and provides its partners with recurring revenue
streams, improved customer retention and market differentiation.
The platform services millions of engaged users around the
world.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding
MiMedia, and their respective businesses, which may include, but is
not limited to, statements with respect to the completion of a
Transaction, appointment or any other decision made by the
business. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "is expected",
"expects", "scheduled", "intends", "contemplates", "anticipates",
"believes", "proposes" or variations (including negative
variations) of such words and phrases, or state that certain
actions, events or results "may", "could", "would", "might" or
"will" be taken, occur or be achieved. Such statements are based on
the current expectations of the management of MiMedia. The
forward-looking events and circumstances discussed in this release,
may not occur by certain specified dates or at all and could differ
materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding
the MiMedia industry, failure to obtain regulatory or shareholder
approvals, economic factors, the equity markets generally and risks
associated with growth and competition. Although MiMedia
have attempted to identify important factors that could cause
actual actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement
can be guaranteed. Except as required by applicable securities
laws, forward-looking statements speak only as of the date on which
they are made and MiMedia undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events, or otherwise.
SOURCE MiMedia