EdgeTI Clarifies Stock Option Grants and Announces CFO Departure

Rhea-AI Summary

Edge Total Intelligence Inc. (UNFYF) clarifies stock options grants to directors, with each receiving 100,000 option shares, subject to vesting and a five-year exercise period. The company also announces the departure of its CFO and the appointment of an interim CFO.

Arlington, Virginia--(Newsfile Corp. - January 31, 2024) - Edge Total Intelligence Inc. (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5I) ("edgeTI", "Company"), a leading provider of Real-Time Digital Operations software, provides this clarifying news release in relation to certain grants of stock options made to the Company's directors effective as of October 27, 2023.

Each of the three Directors were granted 100,000 option shares (the "Options"), for an aggregate of 300,000 Options, pursuant to the terms of the Company's omnibus share incentive plan (the "Plan"). Each Option is exercisable until October 26, 2028, at a price of C$0.55 per Option to acquire one subordinate voting share of the Company (a "Share") for a period of five years from the grant date. One third of the Options will vest immediately, the second third will vest at the first anniversary of the grant, and the remainder will vest on the second anniversary of the grant. The Options are subject to approval of the TSX Venture Exchange and to the TSXV Venture Exchange mandated hold period. The Company further wishes to clarify its previous news release dated January 19, 2024, that each Option previously granted is exercisable to acquire one Share.

The Company also announces the departure of Geremy Connor who held the office of Chief Financial Officer of the Company from June 9, 2023, through October 31, 2023. Geremy worked with the management team prior to his departure to ensure a smooth transition for the board of directors and Company. The Company appointed Nicholas Brigman, its Corporate Secretary, to serve as interim CFO since November 1, 2023. The Company is in discussion with potential candidates to assume the responsibilities of the role.

About edgeTI

edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform's low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations - helping them achieve the impossible.

Website: https://edgeti.com
LinkedIn: www.linkedin.com/company/edgeti
YouTube: www.youtube.com/user/edgetechnologies
Twitter: www.twitter.com/edge_suite

For more information, please contact:

Nick Brigman, Interim Chief Financial Officer, Corporate Secretary
Phone: 888-771-3343
Email: ir@edgeti.com

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.

Forward-Looking Information and Statements

Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, TSXV not approving the Option grants, the Company being unable to find a satisfactory replacement CFO, business, economic and capital market conditions.

Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include the TSXV refusing to approve the Option grants, the availability of a satisfactory replacement CFO, the continued availability of capital and financing, the impact of viruses and diseases on the Company's ability to operate, competition and general economic, and market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196229

FAQ

What is the ticker symbol for Edge Total Intelligence Inc.?

The ticker symbol for Edge Total Intelligence Inc. is UNFYF.

How many option shares were granted to each director?

Each director was granted 100,000 option shares, totaling 300,000 options.

What is the exercise price for the options?

The exercise price for the options is C$0.55 per option to acquire one subordinate voting share of the company.

How long is the exercise period for the options?

The options are exercisable until October 26, 2028, for a period of five years from the grant date.

Who is the interim CFO of Edge Total Intelligence Inc.?

Nicholas Brigman, the Corporate Secretary, is serving as the interim CFO since November 1, 2023.