MONTREAL, Jan. 17, 2020 /CNW Telbec/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), is pleased to announce it has engaged The Howard Group as its investor relations communications advisor to direct both traditional and online initiatives targeting institutional and retail investing groups as well as the broader investment community.
The Agreement is for one year effective January 15, 2020. The remuneration payable to The Howard Group will be $7,500 per month plus GST. In addition, The Howard Group has been granted options to acquire two hundred thousand (200,000) common shares of the Company at an exercise price of $0.25. These options have a term of three years and will vest as follows: 50,000 options shall vest on March 15, 2020, 50,000 options shall vest on June 15, 2020, 50,000 options shall vest on September 15, 2020, and 50,000 options shall vest on December 15, 2020.
The Agreement is subject to the approval of the TSX Venture Exchange.
Since 1988, The Howard Group has provided comprehensive investor outreach and capital markets programs, financing assistance, business development solutions and strategic planning to public companies.
In addition, The Howard Group Inc. will be providing an ongoing commentary on IOU's activities through its "Insight" blog. Interested parties are encouraged to subscribe to the commentary feed: https://howardgroupinc.com/howard-group-blog/.
About IOU Financial Inc.
IOU Financial Inc. provides small businesses throughout the U.S. and Canada access to the capital they need to seize growth opportunities quickly. In a unique approach to lending, IOU Financial's advanced, automated application and approval system accurately assesses applicants' financial realities, with an emphasis on day-to-day cash flow trends. IOU Financial allows these businesses to apply for six, nine, twelve, fifteen and eighteen-month term loans of up to US$500,000 to qualified U.S. applicants ($150,000 in Canada) within a few business days, with affordable charges favorable to cash-flow management. Its speed and transparency make IOU Financial a trusted alternative to banks. To learn more visit: IOUFinancial.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.