VANCOUVER, BC / ACCESSWIRE / April 10, 2020 / ZoomAway Travel Inc. (TSX.V:ZMA) (the "Company") www.zoomaway.com is pleased to announce a recent grant of stock options by its Directors to consultants to the Company.
Effective April 7th, 2020, the Directors of ZoomAway granted options to acquire Common Shares at an exercise price of $0.08 per share, consistent with the most recent grant of options (in November, 2019) and above the current market price for the Common Shares, with options to acquire 2,400,000 Common Shares granted to key advisors and consultants to the Company or its operating subsidiaries. These options will vest immediately and will expire in 3 years (April 7, 2023).
With this most recent grant of options to acquire up to 2.4 million Common Shares, the Company currently has stock options outstanding which permit the holders to acquire up to 5,430,000 Common Shares at exercise prices of between $0.08 and $0.20 per Common Share. Under the terms of the ZoomAway Stock Option Plan as approved and confirmed by shareholders, the Company maintains flexibility as the Plan currently allows up to 7,244,367 shares underlying stock options to be granted. As such, ZoomAway could issue additional stock options to acquire up to another 1,814,367 Common Shares (not yet granted). At this time, of the company's outstanding stock options permitting holders to acquire up to 5,430,000 Common Shares, Directors and officers (the "insiders") hold stock options to acquire up to 775,000 of these shares, or 14.3% of the total, again, at exercise prices of between $0.08 and $0.20 per share.
"ZoomAway's Board, in consultation with our senior management, and with the many positive developments ongoing at ZoomAway, decided to grant options to key participants at an exercise price of $0.08 per share. This price is in excess of our most recent trading prices, but consistent with the most recent grant of stock options and is made in expectation of encouraging such key personnel to build shareholder value in excess of $0.08 per share." Stated Sean Schaeffer, CEO of Zoomaway Travel Inc.
For additional information contact: Sean Schaeffer, President, ZoomAway Inc., at 775-691-8860 or sean@zoomaway.com.
About Us
ZoomAway, Inc. (Nevada Co.) provides leading hotels, golf resorts, ski resorts, and activity providers with a seamless, scalable, and fully integrated technology platform that allows for the discounted packaging of lodging, ski, golf, activities, and attractions. It seamlessly integrates into client websites, providing their customers with a real-time one-stop shop for all of their travel and recreational needs. Additional information about ZoomAway Inc. can be found at www.zoomaway.com.
Forward-Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed Offering and has neither approved nor disapproved the contents of this press release.
SOURCE: ZoomAway Travel Inc.
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