Not for distribution to U.S. news wire services or for dissemination in the United States
Toronto, Ontario, April 28, 2022 (GLOBE NEWSWIRE) -- Avante Logixx Inc. (TSXV: XX) (OTC: ALXXF) (“Avante” or the “Company”) announces the grant of stock options to certain officers and directors of the Company for the purchase of up to 1,100,000 common shares of Avante, effective as of today.
Emmanuel Mounouchos, the Chief Executive Officer of the Company, has been granted options to acquire up to 800,000 common shares of the Company, subject to the terms and conditions of the Company’s 10% rolling stock option plan. Twenty-five percent of Mr. Mounouchos’ options will vest on the first anniversary of the date of the grant, at an exercise price of $0.88 per share. The remaining options vest as follows: (i) an additional 25% upon the second anniversary of the date of the grant, at an exercise price of $0.97 per share, (ii) an additional 25% upon the third anniversary of the date of the grant, at an exercise price of $1.07 per share, and (iii) an additional 25% upon the fourth anniversary of the date of the grant, at an exercise price of $1.18 per share. All of Mr. Mounouchos’ options have a term of five years from the date of grant.
In addition, Leland Verner, Robert Klopot and Wesley Hall, each of whom are directors of the Company, have been granted options to acquire 100,000 common shares of the Company, subject to the terms and conditions of the Company’s 10% rolling stock option plan. The options granted to each of Mr. Verner, Mr. Klopot and Mr. Hall will have an exercise price of $0.88 per share, and will be fully vested immediately upon grant. All of the options granted to each of Mr. Verner, Mr. Klopot and Mr. Hall have a term of five years from the date of grant.
About Avante Logixx Inc.
Avante Logixx Inc. (TSXV: XX) is a Toronto based provider of high-end security services operating with two subsidiaries. Logixx Security supports enterprise customers across Canada, while Avante Security serves residential customers located in Toronto and Muskoka regions of Ontario, Canada. With experienced teams, a focus on customer service and development of innovative solutions, we remain committed to providing our shareholders with exceptional returns. Please visit our website at www.avantelogixx.com.
Avante Logixx Inc.
Emmanuel Mounouchos
CEO
416 923 6984
manny@avantesecurity.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.
