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Matador Technologies Provides Contract Details for CTO Engagement
TORONTO, July 18, 2025 (GLOBE NEWSWIRE) -- Further to its March 31, 2025 announcement welcoming A...
About this update from Matador Technologies Inc.
[{"type":"text","content":"Matador Technologies Provides Contract Details for CTO Engagement\n\n\n\n TORONTO, July 18, 2025 (GLOBE NEWSWIRE) -- Further to its March 31, 2025 announcement welcoming Antoine De Vuyst as Chief Technology Officer (“\n \n CTO\n \n ”) and lead designer of the forthcoming Digital Gold Platform on Bitcoin,\n \n Matador Technologies Inc.\n \n (TSXV: MATA, OTCQB: MATAF, FSE: IU3) (“\n \n Matador\n \n ” or the “\n \n Company\n \n ”) is providing the following summary of Mr. De Vuyst’s consulting agreement (the \"\n \n Agreement\n \n \"), as requested by the TSX Venture Exchange (the “\n \n TSXV\n \n ”).\n \n\n Under the Agreement, which took effect March 1, 2025, Mr. De Vuyst serves as CTO on a month-to-month basis and devotes the time required to meet Matador’s product-development milestones. As consideration for his services as CTO, Mr. De Vuyst will receive:\n \n\n\n C$5,000 per month in common shares of the Company, calculated quarterly, using the 30-day volume-weighted average price of Matador shares on the TSXV and subject to a four (4) month hold; and\n \n\n C$15,000 of restricted share units (“\n \n RSUs\n \n ”) granted quarterly. The RSUs will vest one (1) year from the date of issuance. The RSUs are being issued pursuant to the Company’s Long-Term Incentive Plan.\n \n\n\n All securities issued to Mr. De Vuyst will remain subject to customary hold periods and final TSXV acceptance.\n \n\n Either party may terminate this Agreement by providing thirty (30) days’ written notice. Additionally, the Company reserves the right to terminate the Agreement immediately for cause. The Agreement further stipulates that any intellectual property developed during Mr. De Vuyst’s engagement shall be assigned to Matador.\n \n\n The Agreement is considered a non arm’s-length transaction under applicable securities laws. No finder’s fees were paid, and no new insiders were created pursuant to the Agreement. The Company is relying on the employee-executive exemption under Sections 5.5 and 5.7 of Multilateral Instrument 61-101 -\n \n Protection of Minority Security Holders in Special Transactions\n \n , and therefore no formal valuation or minority-shareholder approval is required.\n \n\n For additional information, please contac...