ImagineAR Issues Stock Options to Directors and Officers

Rhea-AI Summary

ImagineAR Inc. (IPNFF) announced the granting of 5,250,000 stock options to directors and officers on October 2, 2020. The options will vest 50% immediately and the remaining 50% in 90 days, allowing holders to purchase shares at $0.25 each for three years. This decision aligns with the company’s stock option plan, aiming to incentivize leadership and potentially enhance performance. The company provides an AR-as-a-Service platform enabling businesses to create engaging augmented reality experiences without technical expertise.

Positive

• Granting of 5,250,000 stock options to directors and officers can enhance leadership motivation.
• Stock options priced at $0.25 may be seen as a positive long-term growth signal.

Negative

• None.

VANCOUVER, BC and ERIE, Pa., Oct. 2, 2020 /PRNewswire/ - Imagine AR Inc. (IP:CSE) (IPNFF:OTCQB) ("ImagineAR" or "Company") announces that on October 2, 2020 the Company granted 5,250,000 stock options to directors and officers of the Company.  These stock options are granted in accordance with the terms of the stock option plan of ImagineAR Inc.  The options will vest 50% on the date of grant with the remainder vesting in 90 days and each option entitles the holder thereof to purchase one (1) common share of ImagineAR Inc. at a price of $0.25 per common share for a period of three (3) year.

This News Release is available on the company's CEO Verified Discussion Forum, a moderated social media platform that enables civilized discussion and Q&A between Management and Shareholders.

About ImagineAR

Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an "AR-as-a-Service" platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR.com mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.

For more information or to explore working with ImagineAR, please visit www.imaginear.com.

All trademarks of the property of respective owners.
ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO

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We encourage you to do your own due diligence and ask your broker if Imagine AR Inc. (cse: IP) is suitable for your particular investment portfolio*. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release. This press release may include 'forward-looking information' within the meaning of Canadian securities legislation, concerning the business of the Company. The forward looking information is based on certain key expectations and assumptions made by Imagine AR's management. Although Imagine AR believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Imagine AR can give no assurance that it will prove to be correct. These forward-looking statements are made as of the date of this press release, and Imagine AR disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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SOURCE ImagineAR

FAQ

What stock options did ImagineAR grant on October 2, 2020?

On October 2, 2020, ImagineAR granted 5,250,000 stock options to its directors and officers.

What is the exercise price for ImagineAR's stock options?

The stock options granted by ImagineAR have an exercise price of $0.25 per share.

When will the stock options granted by ImagineAR vest?

The stock options will vest 50% on the grant date and the remaining 50% in 90 days.

How long are the stock options valid for ImagineAR?

The stock options are valid for a period of three years.