MONTREAL, July 28, 2020 /CNW Telbec/ - IOU FINANCIAL INC. ("IOU Financial" or the "Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today the grant of options pursuant to its Stock Option Plan.
The Company granted options entitling its senior officers, its directors, and certain employees and consultants to acquire up to an aggregate of 1,745,000 Common Shares of the Corporation ("Shares") at an exercise price of $0.08. 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, and if exercised, their underlying shares would be subject to a four-month hold period from the date of issuance of the options.
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 ($100,000 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.
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SOURCE IOU Financial Inc.