OTTAWA, Ont. December 9, 2015 – Magor Corporation (TSX-V:MCC), a global leader in visual collaboration solutions, today announced today that it has cancelled an aggregate of 3,116,900 stock options previously granted to certain directors, officers, employees and consultants of the Company from 2010 to 2015. Subsequent to the cancellation of these options and pursuant to its stock option plan, the Company has granted stock options to directors, officers, employees and consultants of the Company to purchase up to an aggregate of 4,200,720 common shares in the capital stock of the Company. The stock options are exercisable for a five-year period at a price of $0.05 per common share. Granting of these options is subject to TSX Ventures Exchange approval. A total of 1,950,000 of the options which were granted to insiders of the Company are subject to disinterested shareholder approval and may not be exercised until such approval has been obtained. Following the grant and cancellation of options, the Company has 4,637,220 stock options outstanding.
“Equity grants continue to play a significant role as an incentive to attract and retain the best and brightest employees," stated Terry Matthews, Chairman of Magor Corporation. "The Magor Corporation board of directors fully understands and supports a stock option plan for current and future employees in order to keep us in a competitive hiring position within our industry.”
Magor enables people to engage in high-quality visual conversations while simultaneously sharing, viewing and editing relevant collaborative material on desktops, laptops, tablets, smartphone applications, whiteboards and other devices. Magor fits any workflow so that users have the freedom to work together naturally anytime, regardless of location, network or device. To find out more about Magor Corporation (TSX-V: MCC), visit our website at www.magorcorp.com.
For further information, please contact:
President and CEO
+1 613 686-1731
Virtus Advisory Group Inc.
+1 416 995-8651
Senior Marketing Manager
+1 613 686-1731 ext. 5526