Platinum Communications Option Grant and Shares for Services
19 January 2013 - 5:22AM
Business Wire
Platinum Communications Corp. (“Platinum” or the
“Corporation”) (TSX-V: PCS) today announced that subject to
regulatory approval, options to acquire up to 2,150,000 common
shares of the Corporation were granted today to certain directors,
officers, employees and consultants pursuant to the Corporation’s
stock option plan. Of this number, 1,800,000 options were granted
to directors and officers of Platinum. Each of the options is for a
five year term, expiring on January 18, 2018, and is exercisable at
a price of $0.11 per share. The closing price of Platinum’s common
shares as at January 18, 2013 was $0.11.
Platinum also announces that, subject to approval from the TSX
Venture Exchange Inc. (“TSXV”), it has agreed to issue 111,111
common shares to a consultant of Platinum, in consideration of
certain past services provided to Platinum. Platinum has also
requested approval from the TSXV to issue 262,222 common shares to
certain officers of Platinum in accordance with Platinum’s
Executive Stock Compensation Plan.
A total of 373,333 common shares will be issued at a deemed
price of $0.09 each pursuant to statutory exemptions from the
prospectus requirements under applicable securities laws. Resale
restrictions will apply to these shares in accordance with
applicable laws.
Platinum Communications Corporation (TSX-V: PCS) is a leading
provider of superior quality fixed wireless Internet and Broadband
solutions in Alberta. Based in Calgary, Platinum operates a
wireless broadband network that utilizes Next-Generation Wimax
technology to bring fast, reliable and affordable Internet and
digital phone service to residents and businesses across the
province. Serving approximately 13,000 customers in over 180
communities, Platinum caters primarily to rural and near-urban
markets that are often beyond the reach of traditional Internet
providers. Platinum’s high quality infrastructure, excellent
service record and ever-growing network and capabilities, make it
the provider of choice for customers within its vast coverage area.
For more information please visit our website at www.platinum.ca or
call 403-301-4591.
This news release may contain forward-looking statements. These
forward-looking statements do not guarantee future events or
performance and should not be relied upon. Actual outcomes may
differ materially due to any number of factors or uncertainties,
many of which are beyond Platinum's control. Some of these risks
and uncertainties may be described in Platinum's corporate filings
(posted at www.sedar.com). Platinum has no intention or obligation
to update or revise any forward-looking statements due to new
information or events.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this news release.
Source: Platinum Communications Corporation
(PCS)http://www.platinum.ca
To view this press release as a webpage please click on the
following link: http://www.usetdas.com/pr/platinumjan182013.htm
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