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Globalive Technology Announces Equity Incentive Awards to Key Participants in RTO Transaction
Globalive Technology Announces Equity Incentive Awards to Key Participants in RTO Transact...
About this update from Live Energy Minerals Corp
[{"type":"text","content":"\n\n\n\nGlobalive Technology Announces Equity Incentive Awards to Key Participants in RTO Transaction\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 11, 2020\n\n\n\nGlobalive Technology has approved the grant of restricted share units to directors, officers and employees of the company considered to be key participants in the successful negotiation and implementation of a previously announced reverse takeover transaction, and has made corresponding amendments to equity incentives previously granted to those individuals. \n TORONTO, Sept. 11, 2020 /CNW/ - Globalive Technology Inc. (TSX-V: LIVE) (the \"Company\"), a technology company based in Toronto, Ontario, has approved the grant of 505,000 restricted share units for common shares of the Company (the \"RSUs\") under the Company's 2018 Omnibus Equity Incentive Compensation Plan (the \"Plan\"). The RSUs were granted as an incentive to directors, officers and employees of the Company (the \"Key Participants\") considered to have key roles to play in the successful negotiation and implementation of the reverse takeover transaction between the Company, Socati Corp. and Yooma Corp. described in previous press releases dated June 3, 2020 and July 13, 2020, or any other applicable change of control event (the \"RTO Transaction\"). \nThe RSUs are each exchangeable for 1 common share of the Corporation and will vest on the date the management information circular in respect of the RTO Transaction is mailed out to shareholders (the \"Mailing Date\") or, if the management information circular has not yet been mailed, in three tranches of one-third each, with the first vesting on October 31, 2020, the second vesting one year from the grant date and the final vesting two years from the grant date. \nIn connection with RTO Transaction, the Corporation has also amended the terms of the 60,008 unvested RSUs previously granted to the Key Participants under the Plan to provide that they too will vest on the Mailing Date, and has cancelled an aggregate of 63,133 unexercised options for common shares...