Stock Option Grants
Friday, November 15, 2019 3:40 PM
VANCOUVER, BC / ACCESSWIRE / November 15, 2019 / ZoomAway Travel Inc. (TSXV:ZMA) (the "Company") www.zoomaway.com is pleased to announce a recent grant of stock options to its independent Directors and to various consultants to the Company. No officers of the Company were included in this latest stock option grant.
On November 5, 2019, the Directors of ZoomAway granted options to acquire Common Shares at an exercise price of $0.08 per share, reflecting an average price for the stock over the prior 90 trading days, with options to acquire 75,000 Common Shares granted to the Company's independent directors, options to acquire 150,000 stock options granted for investor relations consulting services, with the balance of the options granted to key advisors and consultants to the Company's operating subsidiaries. The Options granted to the investor relations consultant, Frontier Flex Marketing, will vest in accordance with the provisions of Zoomaway's Stock Option Plan and the TSX-V policies with respect to such options - 25% vesting every quarter (February 5, May 5, August 5 and November 5, 2020) over the next year. All options issued as part of this latest grant will expire in 3 years (November 5, 2022).
With this most recent grant of options to acquire up to 4.75 million Common Shares, the Company currently has stock options outstanding which permit the holders to acquire up to 6,350,000 Common Shares at exercise prices of between $0.08 and $0.20 per Common Share. Under the terms of the ZoomAway Stock Option Plan as approved and confirmed by shareholders, the Company maintains flexibility as the Plan currently allows up to 6,506,567 shares underlying stock options to be granted. As such, ZoomAway could issue additional stock options to acquire up to another 156,567 Common Shares (not yet granted). At this time, of the company's outstanding stock options permitting holders to acquire up to 6,350,000 Common Shares, Directors and officers (the "insiders") hold stock options to acquire up to 1,200,000 of these shares, or 18.9% of the total, again, at exercise prices of between $0.08 and $0.20 per share.
Sean Schaeffer, Company CEO stated, "ZoomAway had not issued stock options for over 18 months. Our Board, in consultation with our senior management, with the many positive developments underway at ZoomAway, decided to grant options to key participants at an exercise price of $0.08 per share. This price is in excess of our most recent trading prices, but consistent with the stock price over the past three months and is made in expectation of encouraging such key personnel to build shareholder value in excess of $0.08 per share. Officers of the company, including myself, who have received stock option grants in the past, are not included in this latest option grant, as we feel that it is important to put stock options in the hands of key people who will help us reach our goals."
For additional information contact: Sean Schaeffer, President, ZoomAway Inc., at 775-691-8860 or [email protected].
ZoomAway, Inc. (Nevada Co.) provides leading hotels, golf resorts, ski resorts, and activity providers with a seamless, scalable, and fully integrated technology platform that allows for the discounted packaging of lodging, ski, golf, activities, and attractions. It seamlessly integrates into client websites, providing their customers with a real-time one-stop shop for all of their travel and recreational needs. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.
Travel Game (Canadian Co.) is a ZoomAway Travel, Inc. subsidiary company dedicated to housing new projects in the digital games. The company's first project is ZoomedOUT which can be seen at zoomedout.io. To receive more detailed, or investor level information, please contact us at [email protected] and we will respond with the appropriate documentation depending on your request.
About Zero8 Studios, Inc.
Zero8 Studios, based in Reno, Nevada, specializes in new and innovative games and technology platforms. With a focus on social gaming and almost two decades of experience building
countless game titles, gaming platforms, and various technologies. The Zero8 Studios' team has assisted dozens of AAA publishers, large clientele, manufacturers, and casinos in the design, production, and delivery of their products to players around the world. Additional information can be found at
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor it's Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Offering and has neither approved nor disapproved the contents of this press release.
SOURCE: ZoomAway Travel Inc.