Ottawa, Ontario--(Newsfile Corp. - November 3, 2022) - C-COM Satellite Systems Inc., (TSXV: CMI) (OTCQB: CYSNF), a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced today that, pursuant to the requirements of the TSX Venture Exchange, it has granted options to purchase 340,000 common shares of C-COM to a director and officers of C-COM.
The stock options were granted pursuant to the terms of C-COM's stock option plan and are exercisable at $1.55 per share.
These grants form part of the overall annual remuneration package. Stock option grants are subject to necessary regulatory approvals.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is a pioneer and world leader in the design, development, and manufacture of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 10,000 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company's iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in late-stage development of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. In cooperation with the University of Waterloo, C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals. For additional information please visit www.c-comsat.com.
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
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Neither 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 Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Statements about C-COM's expectations as to its performance after the COVID-pandemic and its intentions with respect to its Ka-band antenna version all contain forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. The COVID pandemic may last longer than expected or C-COM's preparations may not translate into expected performance for any number of reasons, some of which are beyond C-COM Satellite Systems' control. Anticipated benefits of the new technology may not be realized, and new products and services may not be released or, if released may not gain market acceptance. Any of those events and others could influence future performance and C-COM Satellite Systems Inc.'s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company's most recent MD&A available at www.SEDAR.com.
INVESTOR RELATIONS
C-COM Satellite Systems Inc.
Tel: (343) 803-5245
Fax: (613) 745-7144
lklein@c-comsat.com
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