January 5th , 2018 TSX.V Symbol: TTM
3TL TECHNOLOGIES CORP. RECEIVES SHAREHOLDER APPROVAL
TO POTENTIAL RE-PRICING OF STOCK OPTIONS, AMENDMENT TO FIXED SHARE OPTION PLAN AND AMENDMENT TO FIXED RESTRICTED SHARE UNIT PLAN
Vancouver, British Columbia, 3TL Technologies Corp. (TSXV:TTM) (the “Company”), announces that as a result of the 10 for 1 consolidation of the Company’s common shares effective in May, 2017, the Company’s board of directors approved the re-pricing of a total aggregate of 588,000 options granted to certain Insiders and non Insiders of the Company to purchase common shares of the Company (“Options”), to an amended exercise price of i) the higher of $0.17 and ii) the closing market price of the Company’s Common Shares at the date Shareholder approval is obtained (the “Re-Pricing”).
Shareholders approved the re-pricing of a total of 510,000 options held by Insiders at the Company’s Annual General Meeting held on December 22, 2017 (the “AGM”) by way of ordinary resolution of disinterested shareholders, at the discretion of the board of directors. The closing price of the Company’s common shares on the TSX Venture Exchange (the “TSXV”) on the date of the AGM was $0.145.
The Re-Pricing of the Options will be submitted to the TSX.V for approval and pending receipt of TSX.V approval, none of the Options may be exercised at the revised price.
Also at the AGM, shareholders approved by ordinary resolutions of disinterested shareholders:
1) approval to an increase in the number of shares to be reserved for issuance under the Company’s Fixed Share Option Plan and 2) approval to an increase in the number of shares to be reserved for issuance under the Company’s Fixed Restricted Share Unit Plan.
The following named directors were also elected at the AGM: Robert Craig, David Raffa, Kim Oishi, Steven MacDonald and Yucai Huang.
On behalf of the Board of Directors
3TL TECHNOLOGIES CORP.
Chief Executive Officer
For further information, please contact:
3TL Technologies Corp.
Chief Executive Officer
About 3TL Technologies Corp.
3TL has developed a proprietary, mobile-based consumer marketing platform – PLATFORM3 – that is sold to global Consumer Packaged Goods (CPG) companies and consumer brands. PLATFORM3 is delivered as a subscription service (Software as a Service model) and used by CPG companies to engage consumers, reward purchasers and collect valuable consumer data. PLATFORM3 incorporates Artificial Intelligence and Machine Learning to monetize the consumer data, including demographics and purchasing behavior, by sending consumers targeted offers by email and text messages.
For more information, visit 3tltechcorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. 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.