MONTREAL, Aug. 11, 2022 /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 managers and consultants to acquire up to an aggregate of 2,650,000 Common Shares of the Corporation ("Shares") at an exercise price of $0.16. 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.
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 its proprietary IOU360 technology platform that connects underwriters, merchants and brokers in real time, IOU Financial has become a trusted alternative to banks by originating over US$1 billion in loans to fund small business growth since 2009. IOU was named one of the 50 Best Places to Work in Fintech for 2022 by American Banker and trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU), and on the US OTC markets as IOUFF. To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.IOUFinancial.com.
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.