C-COM Announces Issuance of Stock Options

Rhea-AI Summary

C-COM Satellite Systems Inc., announced the issuance of stock options to purchase 40,000 common shares at $1.21 per share to an officer of C-COM, as part of the annual remuneration package and subject to regulatory approvals.

Ottawa, Ontario--(Newsfile Corp. - May 9, 2024) - C-COM Satellite Systems Inc., (TSXV: CMI) (OTCQB: CYSNF) a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced today, pursuant to the requirements of the TSX Venture Exchange, that it has granted options to purchase 40,000 common shares of C-COM to an officer of C-COM. The stock options were granted pursuant to the terms of C-COM's stock option plan and are exercisable at $1.21 per share. These grants form part of the overall annual remuneration package. Stock option grants are subject to necessary regulatory approvals.

About C-COM Satellite Systems Inc.

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C-COM Satellite Systems Inc. is a pioneer and a leading global designer, developer, and manufacturer of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.

C-COM has sold more than 10,000 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company's iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.

C-COM is in late-stage development of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals over LEO, MEO and GEO satellite constellations. Another significant project underway at C-COM is the Analog Beamforming Integrated Circuit development, which is progressing well and is expected to enter testing phase by the end of this year. For additional information please visit www.c-comsat.com.

iNetVu^® is a registered trademark of C-COM Satellite Systems Inc.

The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).

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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.

INVESTOR RELATIONS
C-COM Satellite Systems Inc.
Tel: (613) 745-4110 ext. 4950
Fax: (613) 745-7144
lklein@c-comsat.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/208649

FAQ

How many common shares were granted in the stock options?

40,000 common shares were granted in the stock options.

At what price are the stock options exercisable?

The stock options are exercisable at $1.21 per share.

Who were the stock options granted to?

The stock options were granted to an officer of C-COM.

What is the purpose of the stock options grants?

The stock options grants form part of the overall annual remuneration package.

What are the necessary approvals required for the stock option grants?

Stock option grants are subject to necessary regulatory approvals.