MONTREAL, May 3, 2021 /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, directors, and certain employees and consultants to acquire up to an aggregate of 2,625,000 Common Shares of the Corporation ("Shares") at an exercise price of $0.12. 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) which will vest on each of the first and second anniversaries of the date of grant, except that 200,000 of these options, granted to Rose of Sharon Capital Corporation (a company engaged by IOU to assist it with a variety of capital markets and corporate development-related projects, including the provision of certain investor relation services), will vest as follows: one-twelfth (1/12) of the options will vest at each three (3) month period during the first 12 months of the date of grant, and one-third (1/3) vest on each of the first and second anniversaries of the date of grant.
About IOU Financial Inc.
IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and Canada. Built on a proprietary technology platform that connects underwriters, merchants and brokers in real time, IOU Financial has become a trusted alternative to banks by underwriting US$873 million in loans to fund small business growth since 2009. To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.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.