Snipp Interactive Announces Stock Option Grants

Rhea-AI Summary

Snipp Interactive, a global provider of digital marketing promotions, rebates, and loyalty solutions, has announced the grant of 4,000,000 stock options. These options are awarded to six officers and three directors. Each option is exercisable at a price of C$0.095 per common share. The options will expire in 5 years and will vest in tranches from the grant date until June 5, 2025.

Positive

• Granting of 4,000,000 stock options could align management interests with those of shareholders, potentially driving company performance.
• Stock options have a 5-year expiration, giving recipients a long-term stake in the company's success.

Negative

• Granting 4,000,000 stock options could lead to potential shareholder dilution if exercised.
• The options vesting within a year might not provide long-term incentives for company officers and directors.

VANCOUVER, BC / ACCESSWIRE / June 6, 2024 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSX-V:SPN)(OTC PINK:SNIPF), a global provider of digital marketing promotions, rebates, and loyalty solutions, announces a total grant of 4,000,000 stock options to six officers and three directors. The options are to be exercisable at a price of C$0.095 per common share and expire after 5 years and vest in tranches between the grant date and June 5, 2025.

About Snipp:

Snipp Interactive Inc. (TSX-V:SPN)(OTC PINK:SNIPF) is a leading Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 500 clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as an industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case-by-case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit Snipp's website at www.snipp.com and its profile on SEDAR+ at www.sedarplus.ca.

Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. Snipp is publicly listed on the TSX Venture Exchange in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.

FOR FURTHER INFORMATION PLEASE CONTACT:

Snipp Interactive Inc.
Jaisun Garcha
Chief Financial Officer
investors@snipp.com
1-888-99-SNIPP

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.

Neither the 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.

Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.

SOURCE: Snipp Interactive Inc.

View the original press release on accesswire.com

FAQ

What did Snipp Interactive announce on June 6, 2024?

Snipp Interactive announced the grant of 4,000,000 stock options to six officers and three directors.

What is the exercise price for the SNIPF stock options granted in June 2024?

The exercise price for the SNIPF stock options is C$0.095 per common share.

When do the SNIPF stock options granted in June 2024 expire?

The SNIPF stock options granted in June 2024 expire after 5 years.

How many SNIPF stock options were granted to officers and directors?

4,000,000 SNIPF stock options were granted to six officers and three directors.

When will the SNIPF stock options granted in June 2024 vest?

The SNIPF stock options will vest in tranches between the grant date and June 5, 2025.