TORONTO, ONTARIO — (Marketwired) — 01/29/15 — Frankly Inc. (“Frankly” or the “Company”) (TSX VENTURE: TLK), a next generation chat technology platform that brings dynamic conversation and direct consumer engagement to mobile app experiences, today announced that the Company granted a total of 1,222,510 stock options to directors, officers, employees, advisors and consultants of the Company (the “Options”). Each Option allows the holder to acquire a common share of the Company for a period of ten years, subject to vesting requirements. The exercise price for 235,490 of the Options is $3.05, while the exercise price for the remainder of the Options is $2.99.
Out of the total number of Options, 756,446 were granted to the executive team, one of whom also serves as a director of the Company. The initial vesting date of 1,217,310 Options will be the anniversary of the grant date, at which point 25% of the Options of each holder will vest and, thereafter 1/48th of the remaining Options will vest monthly during the three (3) years beginning on the first anniversary of the grant date until the applicable Options are fully vested. The remaining 5,200 Options are fully vested.
Under the Company–s Equity Incentive Plan (the “Plan”), the maximum aggregate number of shares that may be issued under the Plan shall not exceed 10% of the common shares issued and outstanding from time to time on a non-diluted basis. Including the grant of the Options, the Company will have 1,678,825 options issued and outstanding, representing approximately 7.61% of the Company–s common shares outstanding.
About Frankly Inc.
Frankly Inc. is a next generation chat technology platform that brings dynamic conversation and direct consumer engagement to mobile app experiences. Frankly aims to unlock the power of messaging for every platform by seamlessly enabling access to conversations that matter most to individuals and communities. Through the simple integration of our Chat SDK, Frankly–s technology can be inserted into a website or mobile application to provide a customizable version of Frankly–s messaging technology. Currently, Frankly is working with many partners, across several industries. Frankly Inc. also offers Frankly Chat, a free, mobile messaging application for iOS and Android devices. Frankly Chat has over 2 million downloads, and is focused on user privacy by offering ephemeral messages and unsend capabilities.
To learn more about Frankly Inc., please visit .
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contacts:
Frankly Inc.
Steve Chung
CEO
+1.415.861.9797
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