ProStar Holdings Stock Option Grant and Repricing of Previously Granted Stock Options
ProStar Holdings has announced the approval of 2,229,000 stock options priced at $0.25 per share, effective for five years. Of these, 1,350,000 options are designated for directors and senior officers. Additionally, 2,940,000 existing options are being repriced to $0.25. This strategy aims to retain staff amidst a challenging environment. The repricing requires approval from the TSX Venture Exchange. ProStar specializes in precision mapping solutions, serving various sectors, including construction and utilities, with a strong patent portfolio protecting its technologies.
- Approval of 2,229,000 stock options promotes staff retention.
- 1,350,000 options allocated to directors and senior officers enhance leadership incentives.
- Repricing of 2,940,000 options to $0.25 aligns employee interests with company performance.
- The need for repricing indicates potential retention challenges within the company.
GRAND JUNCTION, Colo., Sept. 09, 2022 (GLOBE NEWSWIRE) -- ProStar Holdings Inc. (“ProStar®” or “the Company”) (TSXV: MAPS) (OTCQX: MAPPF) (FSE: 5D00) announces that the Company’s Board of Directors has approved the grant of 2,229,000 stock options, each exercisable at a price of
In a challenging staff retention environment, the Company has elected to reprice certain stock options granted to employees and consultants of the Company. Stock options previously granted to directors and senior officers of the Company will not be repriced. The repricing of the Repriced Options is subject to the approval of the TSX Venture Exchange (the “TSXV”).
About ProStar:
ProStar is a world leader in Precision Mapping Solutions and is creating a digital world by leveraging the most modern GPS, cloud, and mobile technologies. ProStar is a software development company specializing in developing patented cloud and mobile precision mapping solutions focused on the critical infrastructure industry. ProStar’s flagship product, PointMan, is designed to significantly improve the workflow processes and business practices associated with the lifecycle management of critical infrastructure assets both above and below the Earth’s surface
For more information about ProStar, please visit www.prostarcorp.com.
ProStar’s PointMan is offered as a Software as a Service (SaaS) and seamlessly connects the field with the office and provides the ability to precisely capture, record, display, and manage critical infrastructure, including roads, railways, pipelines, and utilities. Some of the largest entities in North America have adopted ProStar’s solutions, including Fortune 500 construction firms, Subsurface Utilities Engineers (SUE) firms, utility owners, and government agencies. ProStar has strategic business partnerships with the world’s leading geospatial technology providers, data collection equipment manufacturers, and dealer networks.
The Company has made a significant investment in creating a vast intellectual property portfolio that includes 21 issued patents in the United States and Canada. The patents protect the methods and systems required to digitally capture, record, organize, manage, distribute, and display the precise location of critical infrastructure, including buried utilities and pipelines. ProStar’s Executive management team has extensive experience in the management of both early-stage and Fortune 500 technology companies in the private and public sectors.
For more information about ProStar, please visit www.prostarcorp.com.
On behalf of the Company,
Page Tucker, CEO and Director
Contact:
Joel Sutherland
Investor Relations
970-822-4792
Investorrelations@prostarcorp.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the terms and conditions of the Company’s future plans. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance and that actual results may differ materially from those in forward-looking information as a result of various factors, including, but not limited to: the state of the financial markets for the Company’s securities; the state of the technology sector; recent market volatility; the COVID-19 pandemic; the Company’s ability to raise the necessary capital or to be fully able to implement its business strategies; and other risks and factors that the Company is unaware of at this time. The reader is referred to the Company’s recent Annual Management’s Discussion & Analysis filed on SEDAR on April 14, 2022, for a more complete discussion of applicable risk factors and their potential effects, copies of which may be accessed through the Company’s issuer page on SEDAR at www.sedar.com.
FAQ
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