TORONTO / SEATTLE March 15, 2020 – POSaBIT Systems Corporation (“POSaBIT” or the “Company”), a leading financial technology company delivering unique payment processing and point-of-sale (POS) systems for cash-only businesses with a focus on the cannabis industry, announces that the Board of Directors has approved the grant of 744,400 stock options (the “Options”) to participants of the Company’s stock option plan (the “Plan”). The Options are exercisable into common shares of the Company at an exercise price of C$0.275 per share over the next 10 years, with vesting periods ranging from immediately to 4 years, all in accordance with the Plan.
As of the date hereof, a total of 16,610,000 common shares of the Company are reserved for issuance under the Plan and after the grant, there are 12,337,369 options outstanding, with 4,272,631 available for issuance under the Plan.
POSaBIT (CSE: PBIT) is a financial technology company that delivers unique and innovative, blockchain-enabled payment processing and point-of-sale systems for cash-only businesses. POSaBIT specializes in resolving pain points for complex, high-risk, emerging industries like cannabis with an all-in-one solution that is compliant, user-friendly and utilizes top-of-the-line hardware. POSaBIT’s unique solution provides a safer and transparent environment for merchants while creating a better overall experience for the consumer. For additional information, visit: www.posabit.com.
Co-founder and CEO of POSaBIT