Vancouver, British Columbia--(Newsfile Corp. - May 13, 2022) - OOOOO Entertainment Commerce Limited (TSXV: OOOO) (OTCQB: OOOOF) ("OOOOO" or the "Company"), a mobile commerce platform, announces that the Company has granted stock options ("Options") to purchase an aggregate of 1,050,000 subordinate voting shares of the Company ("Shares") to certain directors, officers, employees and consultants pursuant to its stock option plan (the "Plan"), including 550,000 Options issued to directors and officers. Each Option entitles the holder thereof to purchase one Share at a price of $0.20 per Share and will expire 5 years from the date of the grant. One-third of the Options will vest immediately, one-third of the Options will vest on the first anniversary of the date of grant, and one-third of the Options will vest on the second anniversary of the date of grant. Following this grant of Options, the Company will have a total of 1,050,000 Options outstanding.
About OOOOO Entertainment Commerce
OOOOO Entertainment Commerce operates a technology platform that enables retailers, brands and entrepreneurs to share product-based opinions directly to consumers through live, interactive, shoppable videos. The platform also offers gamification and social features which reward the community for helping to grow the user base, reducing the need for traditional ad networks.
For further information please contact:
OOOOO Entertainment Commerce Limited
Chief Executive Officer
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Forward Looking Information
Certain statements in this news release may constitute "forward-looking statements". Forward-looking statements are statements that address or discuss activities, events or developments that OOOOO expects or anticipates may occur in the future. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "projects", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and beliefs of OOOOO's management. Because forward-looking statements involve known and unknown risks, uncertainties and other factors, actual results, performance or achievements of OOOOO or the industry may be materially different from those implied by such forward-looking statements. Examples of such forward-looking information that may be contained in this news release include statements regarding: growth and future prospects of our business; our perceptions of the industry and markets in which we operate and anticipated trends in such markets; expectations regarding the operation of our app; our future revenues; and the value of our equity investments. Material factors or assumptions that were applied in drawing a conclusion or making an estimate set out in the forward-looking statements may include, but are not limited to, our ability to execute on our business plan, increase visibility amongst consumers and convert users to revenue producing subscribers and the success of the business of our partners. Forward-looking statements involve significant uncertainties, should not be read as a guarantee of future performance or results, and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, without limitation: those relating to potential disruptions to product delivery; failure to meet regulatory requirements; adoption of the software in the Middle East changes in the market; potential downturns in economic conditions; availability of financing (as necessary); and other risk factors described in our Filing Statement which is available on SEDAR at www.sedar.com. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and OOOOO undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.
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