VANCOUVER, BC, Oct. 26,
2022 /CNW/ - Jasper Commerce Inc. (TSXV: JPIM)
("Jasper"or the "Company"), a leading provider of
Product Information Management ("PIM") solutions, announces
that management and directors acquired 380,000 common shares of
Jasper in the open market between October 14
and October 24, at prices ranging from $0.05 to $0.10 per
share. Complete details are available at SEDI.ca. With the Company
expected to file its audited annual financial statements and
related MD&A for the fiscal year ending July 31 2022 at the end of November, insiders are
now restricted from purchasing further shares on the open market,
in accordance with the Company's insider trading policies.
Management and the Board's purchases reflect confidence in the
intrinsic value of the stock, near-term and long-term growth
prospects, and the outstanding team that work at the Company. With
these purchases, insiders now own 20,383,000 shares, or about 35%
of the Company's basic outstanding shares as of April 30, 2022.
The Company also announces that it has granted an aggregate of
1,490,000 stock options under the Company's stock option plan to
the directors, employees, and officers of the Company with an
exercise price of $0.125 per common
share, representing the stock's highest closing market price since
June 29, 2022, exercisable for a
period of five years from the date of grant. One third of the stock
options vest on October 24, 2023, one
third vest on October 24, 2024, and
one third vest on October 24,
2025.
About Jasper Commerce Inc.
Jasper offers a Product Information Management
(" PIM ") solution that has the objective of
empowering eCommerce merchants to manage and merchandise their
products from a single source of truth, facilitating them to sell
more, sell faster and work smarter. Jasper's PIM is accessible from
anywhere via a web-browser and is intended to simplify the process
by which online merchants import product data into the PIM. Once
uploaded, merchants can add various product data including product
attributes, images, videos, marketing information, inventory
quantities and price books and efficiently merchandise their
products using various features that include, among other things,
the ability to adjust product categorization, pricing data and
other key metrics. Jasper's PIM also allows for automatic syncing
to popular eCommerce storefronts, marketplaces, or other connected
channels, whenever new products are added to the PIM.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Investors are cautioned that, except as disclosed in the
Filing Statement prepared in connection with the Transaction, any
information released or received with respect to the Transaction
may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be
considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the
merits of the Transaction and has neither approved nor disapproved
the contents of this press release.
Forward Looking Statements
The information in this news release includes certain
information and statements about management's view of future
events, expectations, plans and prospects that constitute forward
looking statements, including statements relating to the
acceptance of the Transaction by the TSX Venture Exchange,
the closing of the Transaction, the financial performance of the
Company on its own and on a combined post-Transaction basis, and
the business plans of the Company. These statements are based upon
assumptions that are subject to significant risks and
uncertainties. Because of these risks and uncertainties and as a
result of a variety of factors, the actual results, expectations,
achievements or performance may differ materially from those
anticipated and indicated by these forward looking statements. Any
number of factors could cause actual results to differ materially
from these forward–looking statements as well as future results.
Although the Company believes that the expectations reflected in
forward looking statements are reasonable, it can give no
assurances that the expectations of any forward looking statements
will prove to be correct. Except as required by law, the Company
disclaims any intention and assumes no obligation to update or
revise any forward looking statements to reflect actual results,
whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward looking
statements or otherwise.
SOURCE Jasper Commerce, Inc.