CALGARY, April 13, 2017 /CNW/ - Mosaic Capital Corporation
("Mosaic" or the "Company") (TSX-V Symbols: M
and M.DB) is pleased to report that it has issued, as part
of its long term incentive compensation program (the
"Plan"), an aggregate of 56,176 restricted securities units
("RSUs") to its directors and executive officers (38,786
RSUs) and employees (17,390 RSUs), and an aggregate of 231,592
options to purchase Mosaic common shares ("Options") to its
directors and executive officers (159,906 Options) and employees
(71,686 Options). The Options have an exercise price of
$8.74 and, subject to certain
conditions, will expire 5 years from the date of grant. The
RSUs and Options held by a Plan participant will vest yearly in
three equal tranches starting in the Spring of 2018.
In accordance with the terms of Mosaic's Securities Based
Compensation Plan, the exercise price of the Options is based on
the 5 day volume weighted average closing price of the Company's
common shares, ending April 12,
2017.
Reference should be made to Mosaic's most recent information
circular for its 2016 annual general and special meeting of
shareholders for a description of the Plan.
ABOUT MOSAIC CAPITAL CORPORATION
Mosaic is a Canadian investment company that owns a portfolio of
established businesses which span a diverse range of industries and
geographies. Mosaic's strategy is to create long-term value
for its shareholders through accretive acquisitions, long-term
portfolio ownership, sustained cash flows and organic portfolio
growth. Mosaic achieves its objectives by maintaining
financial discipline, acquiring businesses at attractive
valuations, performing extensive acquisition due diligence,
utilizing optimal transaction structuring and working closely with
subsidiary businesses after acquisition.
SOURCE Mosaic Capital Corporation