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TORONTO, Sept. 08, 2023 (GLOBE NEWSWIRE) — ARHT Media Inc. (“ARHT” or “the Company”) (TSXV: ART), (OTCQB: ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, announced today that it has granted an aggregate of 6,925,000 options to various employees, officers and directors of the Company under the long-term incentive plan of the Company (the “LTIP”). The options are exercisable at a price of $0.125 per option and expire on the fifth anniversary of the grant date. The options vest in three equal tranches, with the first tranche vesting on the date of grant, the second tranche vesting on the first anniversary of the grant date and the third tranche vesting on the second anniversary of the grant date. The Company has also granted an aggregate of 1,965,487 restricted share units (“RSUs”) to various employees and officers of the Company pursuant to the LTIP. Each of the RSUs shall vest on the first anniversary of the grant date. The options and RSUs are subject to a four-month hold period.
Following the grant of the stock options and RSUs, the Company has an aggregate of 19,823,950 stock options outstanding and 1,965,487 RSUs outstanding representing in aggregate approximately 10% of the outstanding common shares of the Company. The grant of options and RSUs remains subject to TSX Venture Exchange approval.
ARHT is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers, and thought leaders can travel at the speed of light to any destination.
ARHT was founded in 2014 and is publicly traded on the TSX Venture Exchange. ARHT has offices in North America, Europe and Asia and operates from its own studios in locations from Toronto to Singapore, as well as a large network of partner studios in every region.
Connect with ARHT:
ARHT trades under the symbol “ART” on the TSX Venture Exchange.
Chief Financial Officer
+1 (416)-782-8042 (head office)
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company’s sales funnel; the Company’s technology; the potential uses for the Company’s technology; the future planned events using the Company’s technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company’s technology; and interest from parties in ARHT’s products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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