Avante Logixx Announces Grant of Stock Options
29 April 2022 - 07:35AM
Avante Logixx Inc. (TSXV: XX) (OTC: ALXXF)
(“
Avante” or the “
Company”)
announces the grant of stock options to certain officers and
directors of the Company for the purchase of up to 1,100,000 common
shares of Avante, effective as of today.
Emmanuel Mounouchos, the Chief Executive Officer
of the Company, has been granted options to acquire up to 800,000
common shares of the Company, subject to the terms and conditions
of the Company’s 10% rolling stock option plan. Twenty-five percent
of Mr. Mounouchos’ options will vest on the first anniversary of
the date of the grant, at an exercise price of $0.88 per share. The
remaining options vest as follows: (i) an additional 25% upon the
second anniversary of the date of the grant, at an exercise price
of $0.97 per share, (ii) an additional 25% upon the third
anniversary of the date of the grant, at an exercise price of $1.07
per share, and (iii) an additional 25% upon the fourth anniversary
of the date of the grant, at an exercise price of $1.18 per share.
All of Mr. Mounouchos’ options have a term of five years from the
date of grant.
In addition, Leland Verner, Robert Klopot and
Wesley Hall, each of whom are directors of the Company, have been
granted options to acquire 100,000 common shares of the Company,
subject to the terms and conditions of the Company’s 10% rolling
stock option plan. The options granted to each of Mr. Verner, Mr.
Klopot and Mr. Hall will have an exercise price of $0.88 per share,
and will be fully vested immediately upon grant. All of the options
granted to each of Mr. Verner, Mr. Klopot and Mr. Hall have a term
of five years from the date of grant.
About Avante Logixx Inc.
Avante Logixx Inc. (TSXV: XX) is a Toronto based
provider of high-end security services operating with two
subsidiaries. Logixx Security supports enterprise customers across
Canada, while Avante Security serves residential customers located
in Toronto and Muskoka regions of Ontario, Canada. With experienced
teams, a focus on customer service and development of innovative
solutions, we remain committed to providing our shareholders with
exceptional returns. Please visit our website at
www.avantelogixx.com.Avante Logixx Inc.
Emmanuel Mounouchos CEO416 923 6984 manny@avantesecurity.com
Neither the 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.
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