Clip Money Inc. Reports Issuance of Options

Rhea-AI Summary

On June 25, 2024, Clip Money (TSXV:CLIP) announced the issuance of 300,000 stock options to its directors as a recognition of their service. These options have a one-year vesting period and are priced at CDN$0.22, which was the trading price at the close of business on June 24, 2024. They will expire 10 years from the grant date. The issuance is part of the company's omnibus equity incentive plan, which allows for up to 10,494,753 common shares to be issued.

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TORONTO, June 25, 2024 (GLOBE NEWSWIRE) -- Clip Money, Inc. (“Clip” or “Company”) (TSXV:CLIP), a company that operates a multi-bank self-service deposit system for businesses, announces the grant of an aggregate of 300,000 options (the “Options”) to acquire common shares of the Company (the “Common Shares”) to directors of the Company to recognize their service to the board of directors of the Company. The Options have a one-year vesting period, an exercise price equal to CDN$0.22, being the trading price of the Common Shares at the close of business on June 24, 2024, and will expire 10 years from the date of the grant. The Options are governed by the terms of the Company’s omnibus equity incentive plan, under which an aggregate of 10,494,753 Common Shares are issuable.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

About Clip Money Inc.

Clip operates a multi-bank self-service deposit system for businesses through its ClipDrop Boxes that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.

For further information, please contact:

Joseph Arrage
Chief Executive Officer
tel: 844-593-2547

FAQ

What did Clip Money (CLPMF) announce on June 25, 2024?

Clip Money announced the issuance of 300,000 stock options to its directors.

How many stock options did Clip Money (CLPMF) issue to its directors?

Clip Money issued 300,000 stock options to its directors.

What is the exercise price for the Clip Money (CLPMF) stock options issued on June 25, 2024?

The exercise price for the stock options is CDN$0.22.

When do the newly issued Clip Money (CLPMF) stock options expire?

The stock options will expire 10 years from the grant date, June 25, 2024.

Under which equity plan were the Clip Money (CLPMF) stock options issued?

The stock options were issued under the company's omnibus equity incentive plan.