Penfold Capital Acquisition IV Corporation Announces Stock Option Grants
24 April 2014 - 6:00AM
Marketwired
Penfold Capital Acquisition IV Corporation Announces Stock Option
Grants
TORONTO, ONTARIO--(Marketwired - Apr 23, 2014) - Penfold Capital
Acquisition IV Corporation (the "Company") (TSX-VENTURE:SEL), has
issued stock option grants to employees, directors and officers to
the Company.
"One of our main reasons for going public was to provide our
employees with an economic stake in our growth and future success,"
said Vito Buffone, President and Chief Executive Officer. "We
believe this initial grant at our going public price will help
align the goals of all employees and stakeholders."
The Company issued 3,975,500 stock options at a price of $0.11.
The options have a life of 5 years and one third vest immediately
with the remaining options vesting in equal installments at the 12
month and 24 month anniversary of the grant date.
About Penfold Capital Acquisition IV Corporation
The Company, through its wholly owned subsidiary SLM, is
dedicated to managing consumer and retail store returns and
defective and problematic electronics through product end-of-life
management. The Company provides manages returns from receiving to
end-of-life with quality assurance testing, factory servicing,
resale through non-traditional channels and recycling of non
saleable product to support a closed-loop distribution process. The
Company is able to recycle the non-saleable returns it receives,
thereby allowing customer returns to have a very low environmental
impact. An independent Waste Audit Report shows that the Company is
able to achieve a waste diversion rate of 98.6%. This means that
companies using the Company's processes are able to divert 98.6% of
their product from landfill sites. The Company is currently working
on rolling out this product offering to retailers to allow them to
capture the environmentally conscious consumer. The Company
currently operates only in Ontario.
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.
Forward looking information is typically identified by words
such as: believe, expect, anticipate, intend, estimate, postulate
and similar expressions, or are those, which, by their nature,
refer to future events. The Company cautions investors that any
forward-looking information provided by the Company is not a
guarantee of future results or performance, and that actual results
may differ materially from those in forward looking information as
a result of various factors, including, but not limited to: the
state of the financial markets for the Company's securities; the
state of the industry; recent market volatility; the Company's
ability to raise the necessary capital or to be fully able to
implement its business strategies; and other risks and factors that
the Company is unaware of at this time. The Company expressly
disclaims any obligation to update any forward-looking statements
except as may be required by law.
Penfold Capital Acquisition IV CorporationVito BuffoneChief
Executive Officervito.buffone@slm-logistics.comPenfold Capital
Acquisition IV CorporationPaul HaberInterim Chief Financial
Officerphaber@blackbirchcap.com
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