Voyager Digital Ltd. - Exercise of all Warrants subject to Acceleration and Grant of Stock Options

Rhea-AI Summary

Voyager Digital Ltd. (CSE: VYGR, OTCQB: VYGVF, FRA: UCD2) announced the exercise of all outstanding warrants at C$0.30, totaling C$2,428,608 in value. These shares will have a hold period until October 16, 2020. Additionally, the company granted 1,750,000 incentive stock options to directors and officers, exercisable at $0.90 for five years. Voyager settled debts of C$31,635 by issuing 35,807 common shares at an average of C$0.8835 per share, with resale restrictions of four months and one day.

Positive

• All warrants at C$0.30 were exercised, bringing in C$2,428,608.
• Granting of 1,750,000 stock options potentially incentivizes management.

Negative

• Debt settlement of C$31,635 indicates financial strain.

 CSE: VYGR
OTCQB: VYGVF
 Borse Frankfurt: UCD2

NEW YORK, Aug. 19, 2020 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2) announces that further to its press release dated July 10, 2020 all of the warrants at C$.30 that were subject to acceleration were exercised, with such exercised warrants having a value of C$2,428,608. The common shares issued on the exercise of such warrants are subject to a hold period expiring on October 16, 2020.

The Company also announces that on August 14, 2020 an aggregate of 1,750,000 incentive stock options were granted to certain of its directors and officers, exercisable at a price of $0.90 per share for a period of 5 years. 

The Company also announces that it has settled certain outstanding debts totaling C$31,635 by the agreement to issue 35,807 common shares of the Company at a deemed average price of C$0.8835 per share (the "Debt Settlement"). The settlement was with a related party, representing expenses previously incurred on behalf of the Company.

The shares issued in connection with the Debt Settlement will be subject to resale restrictions expiring four months and one day following the date of issue.

About Voyager Digital Ltd.
Voyager Digital Ltd. is a crypto-asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. Voyager offers customers best execution and safe custody on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent and cost-efficient alternative for trading crypto-assets to the marketplace.  Please visit us at https://www.investvoyager.com for more information and to review the latest Corporate Presentation.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has either approved or disapproved of the contents of this press release.

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SOURCE Voyager Digital (Canada) Ltd.

FAQ

What warrants were exercised by Voyager Digital on August 19, 2020?

All warrants at C$0.30 were exercised, totaling C$2,428,608.

How many stock options did Voyager Digital grant on August 14, 2020?

Voyager granted 1,750,000 stock options to directors and officers.

What was the purpose of the debt settlement announced by Voyager Digital?

The debt settlement of C$31,635 was settled by issuing 35,807 common shares.

What is the exercise price of the stock options granted by Voyager Digital?

The stock options were granted at an exercise price of $0.90 per share.