Kidoz Inc. Expands Employee Incentive Program

Rhea-AI Summary

Kidoz Inc. announced the issuance of 1,300,000 stock options to all employees as part of an expanded incentive program. This move rewards staff for their contributions to the company's record growth in 2020 and aligns their interests with investors. The options have an exercise price of CAD$1.02 and vest over 50 months. Kidoz, a leader in child-safe mobile advertising, aims to attract talent amid competition from tech giants. The program is a strategic response to recruiting challenges in both Vancouver and Israel as demand for skilled professionals increases.

Positive

• Issuance of 1,300,000 stock options increases employee motivation and retention.
• Kidoz aims to attract and retain talent amidst competition from tech giants.
• The company is currently profitable, allowing implementation of aggressive incentive programs.

Negative

• None.

ANGUILLA, BWI / ACCESSWIRE / April 6, 2021 / Kidoz Inc. (TSXV:KIDZ) (the "Company"), AdTech software developer and owner of the KIDOZ Safe Ad Network (www.kidoz.net), the KIDOZ Kid-Mode Operating System, the KIDOZ publisher SDK and the Rooplay edu-games platform, announced today that it is issuing additional stock options to all members of its staff, equally, both as rewards for their roles in enabling the Company to achieve the record growth it realized in 2020 and to increase its investment in them and in their future.

"Investing in our talented employees is critical for the continuation of our rapid growth," commented Jason Williams, Kidoz Co-CEO. "We are now competing for development talent directly with tech giants like Microsoft and Amazon, which have plans to add hundreds of technical staff to their Vancouver offices; we are meeting that competitive challenge by leveraging the significant incentive value of our stock options to increase individual employee shareholdings and strongly align their interests with the interests of our investors." The option grants now being made are in addition to the grants previously made to staff on February 1, 2021, which had an exercise price of CAD$0.50." [see Kidoz Inc. Feb.1 Press Release - 'Kidoz Safe Advertising Network Experiences Record Growth (Corporate Update and Issuance of Stock Options)'].

"The extremely positive reaction from our employees on seeing the potential economic effect of stock options in the money, combined with the rapidly escalating demand for skilled staff world-wide as the pandemic winds down, encouraged us to ‘double down' on our staff incentive program," commented Eldad Ben Tora, Kidoz Co-CEO. "It's not only in Vancouver that staff recruitment challenges are occurring," he commented further "but here in Israel as well."

Kidoz is the market leader in child and family safe mobile advertising and the segment is only beginning to develop as new rules and stricter regulations are being enacted and enforced by Google, Apple, and governments around the world who demand privacy and safety for children online. The Kidoz proprietary advertising technology is installed in thousands of different apps, making it the most popular privacy focused mobile solution in the market. The KIDOZ Safe Ad Network offers publishers a unique technology and monetization solution that every app with family traffic can use to compliantly monetize their content.

"For Kidoz to be successful, we have to grow our talent base and this expanded incentive program sends a message to our entire staff that we consider their dedication and their efforts toward the Company's success to be very important and deserving of reward." stated Tarrnie Williams, Executive Chairman. "Kidoz has staff located all over the world, and the current remote-working environment makes it extremely difficult for start-ups and smaller companies to recruit skilled talent against tech giants like Microsoft and Amazon. Fortunately for Kidoz, our having recently achieved profitability and our being public, with the potential for an escalating share price, enables us to implement an aggressive incentive program utilizing stock options - we expect the options we are now granting to have significant value and to strongly incent our staff to devote their efforts and skills to Kidoz's future growth and development, for their own benefit and for that of all of the Company's stakeholders."

Kidoz Inc. has today issued to all of its employees, consultants and directors, in equal amounts, options entitling them to purchase up to a total of 1,300,000 common shares of the Company at a price of CAD$1.02 per share, vesting at the rate of 2% per month for 50 months. These options have been granted in respect of 0.93% of the common share capital of the Company, calculated on a fully-diluted basis, and were issued in accordance with TSX Policy 4.4, subject to the rules of the TSX Venture Exchange and with the 2015 Stock Option Plan approved by the shareholders of the Company. Kidoz now has a total of 8,250,750 share purchase options outstanding with an average exercise price of CAD$0.46.

About Kidoz Inc.

KIDOZ Inc. (TSXV:KIDZ) (www.kidoz.net) owns the popular Kid-Safe mobile network. Engaging more than 300 million kids a month across our leading mobile KidTech network, KIDOZ provides an essential suite of services that unites kids' brands, content publishers and families. KIDOZ is certified safe by Google and Apple approved for use in the App Store. Trusted by Disney, Hasbro, Lego and more, the KIDOZ Safe Ad Network helps the world's largest brands to safely reach and engage kids across thousands of mobile apps and sites. The KIDOZ OS solution helps carriers and brands such as Lenovo, Acer, and PBS Kids bring a kid-focused experience to their family devices, in a fully GDPR and COPPA compliant way. KIDOZ's Rooplay (www.rooplay.com) offers an interactive learning experience worldwide with original content featuring Moomin, Mr. Men, Little Miss, Mr. Bean and hundreds more kid-focused learning games.

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by the company) contains statements that are forward-looking, such as statements relating to anticipated future success of the company. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of the company. For a description of additional risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission. Specifically, readers should read the Company's Annual Report on Form 10-K, filed with the SEC on March 31, 2021 and the prospectus filed under Rule 424(b) of the Securities Act on March 9, 2005 and the SB2 filed July 17, 2007, and the TSX Venture Exchange Listing Application for Common Shares filed on June 29, 2015 on SEDAR, for a more thorough discussion of the Company's financial position and results of operations, together with a detailed discussion of the risk factors involved in an investment in Kidoz Inc.

For more information contact:

Henry Bromley
CFO
ir@kidoz.net
(888) 374-2163

SOURCE: Kidoz Inc.

View source version on accesswire.com:
https://www.accesswire.com/639091/Kidoz-Inc-Expands-Employee-Incentive-Program

FAQ

What did Kidoz Inc. announce on April 6, 2021?

Kidoz Inc. announced the issuance of 1,300,000 stock options to all employees as part of an expanded incentive program.

What is the exercise price for Kidoz's issued stock options?

The exercise price for the issued stock options is CAD$1.02 per share.

How long will the stock options vest for Kidoz employees?

The stock options will vest at a rate of 2% per month over 50 months.

How does Kidoz plan to compete for talent against tech giants?

Kidoz plans to compete for talent by leveraging the incentive value of stock options.

What percentage of Kidoz's common share capital do the new stock options represent?

The new stock options represent 0.93% of the common share capital of Kidoz, calculated on a fully-diluted basis.