IOU Financial Reports on Grant of Stock Options

Rhea-AI Summary

IOU Financial Inc. announced the grant of stock options under its Stock Option Plan, allowing senior officers, directors, and certain managers to acquire 2,650,000 common shares at an exercise price of $0.16. The options will vest in three stages: one-third immediately, with the remainder vesting in equal parts over the next two years. IOU Financial has provided over $1 billion in loans to small businesses since 2009, utilizing its innovative IOU360 technology platform. The company is recognized as a trusted alternative to banks in the lending market.

Positive

• Granting of stock options enhances employee incentives, potentially improving company performance.
• Established a robust lending history with over $1 billion in loans to small businesses since 2009.

Negative

• None.

MONTREAL, Aug. 11, 2022 /PRNewswire/ - IOU FINANCIAL INC. ("IOU Financial" or the "Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today the grant of options pursuant to its Stock Option Plan.

The Company granted options entitling its senior officers, directors, and certain managers and consultants to acquire up to an aggregate of 2,650,000 Common Shares of the Corporation ("Shares") at an exercise price of $0.16. These options have a term of five years from the date of grant with one-third (1/3) vesting immediately and one-third (1/3) which will vest on each of the first and second anniversaries of the date of grant.

About IOU Financial Inc.

IOU Financial Inc. is a wholesale lender that provides quick and easy access to growth capital to small businesses through a network of preferred brokers across the US and Canada. Built on its proprietary IOU360 technology platform that connects underwriters, merchants and brokers in real time, IOU Financial has become a trusted alternative to banks by originating over US$1 billion in loans to fund small business growth since 2009. IOU was named one of the 50 Best Places to Work in Fintech for 2022 by American Banker and trades on the TSX Venture Exchange under the symbol IOU (TSXV: IOU), and on the US OTC markets as IOUFF.  To learn more about IOU Financial's corporate history, financial products, or to join our broker network please visit www.IOUFinancial.com.

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

View original content:https://www.prnewswire.com/news-releases/iou-financial-reports-on-grant-of-stock-options-301604621.html

SOURCE IOU Financial Inc.

FAQ

What new stock options were granted by IOU Financial on August 11, 2022?

On August 11, 2022, IOU Financial granted options to acquire 2,650,000 common shares at an exercise price of $0.16, with a three-year vesting schedule.

How does IOU Financial support small businesses?

IOU Financial provides quick access to growth capital to small businesses through its proprietary IOU360 platform, having originated over $1 billion in loans since 2009.

What is the significance of IOU Financial's stock options grant?

The stock options grant aims to align the interests of senior management and shareholders, potentially boosting company performance and shareholder value.

Is IOU Financial recognized in the fintech industry?

Yes, IOU Financial was named one of the 50 Best Places to Work in Fintech for 2022 by American Banker.