Montreal, Quebec, November 26, 2015 — IOU Financial Inc. (TSX Venture Exchange: IOU) (“IOU Financial” or the “Company”) today announced the grant of options pursuant to its Stock Option Plan.
The Company granted options entitling directors, officers, employees and consultants to acquire up to an aggregate of 1,563,500 Common Shares of the Corporation; these options have an exercise price of $0.55 and a term of five years from the date of grant with one-third (1/3) vesting immediately and one-third (1/3) vesting on each of the first and second anniversaries of the date of grant.
The Company also granted options to Paradox Public Relations Inc. (“Paradox”), its strategic investor relations consultants, entitling Paradox to acquire 150,000 Common Shares of the Corporation at an exercise price of $0.55; these options have a term of two years and shall vest over a period of 12 months, at a rate of 25% at the end of each three-month period.