MONTREAL, May 28, 2014 /CNW Telbec/ - IOU Financial Inc. (TSXV: IOU) ("IOU Financial" or the "Company") today announced the grant of options pursuant to its Stock Option Plan.
The Company granted options entitling two directors to acquire up to an aggregate of 105,000 Class B Common Shares of the Corporation at an exercise price of $0.60; these options have a term of five years from the date of grant with one-third (1/3) vesting immediately and one-third (1/3) vesting on each of the first and second anniversaries of the date of grant.
The Company also granted options to Paradox Public Relations Inc. ("Paradox"), its strategic investor relations consultants, entitling Paradox to acquire 100,000 Class B Common Shares of the Corporation at an exercise price of $0.60; these options have a term of two years and shall vest over a period of 12 months, at a rate of 25% at the end of each three-month period.
About IOU Financial Inc.
IOU Financial, via its U.S. subsidiary, IOU Central, provides small businesses throughout the U.S. access to the capital they need to seize growth opportunities quickly. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and e-commerce companies. In a unique approach to lending, IOU Central's advanced, automated application and approval system accurately assesses applicants' financial realities, with an emphasis on day-to-day cash flow trends. It makes loans of up to $100,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. IOU Central's speed and transparency make it a trusted alternative to banks. To learn more visit: www.ioucentral.com.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of IOU including, but not limited to, the impact of general economic conditions, industry conditions, dependence upon regulatory and shareholder approvals, the execution of definitive documentation and the uncertainty of obtaining additional financing. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. IOU does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise.
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.
SOURCE IOU FINANCIAL INC.
Chief Executive Officer
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Chief Financial Officer
(514) 789-0694 ext. 298