VANCOUVER, BC--(Marketwired - June 16, 2017) - Wow Unlimited Media Inc. (TSX VENTURE: WOW.A) (TSX VENTURE: WOW.B) (the "Corporation") announces that on April 19, 2017 certain employees of the Corporation surrendered an aggregate of 107,000 previously issued stock options to the Corporation for cancellation. Further, as disclosed in the Corporation's financial statements for the period ended March 31, 2017, on April 19, 2017, the Corporation's board of directors (the "Board") approved the grant of an aggregate of 987,758 incentive stock options of the Corporation (the "Options") to certain directors, officers and employees of the Corporation, including those employees who surrendered their previously issued options, with an exercise price of $1.80 per share. Of the 987,758 Options granted, 429,421 Options were granted to directors and officers of the Corporation. Although the Options were granted to directors and officers of the Corporation on April 19, 2017, inadvertently, the announcement of such grant was not press released at such time.
422,755 of the Options vested immediately on the date of grant and 565,003 of the Options are subject to vesting which shall occur over a three year period. Each Option entitles the holder thereof to purchase one common voting share or one variable voting share of the Corporation at an exercise price of $1.80 per share for a period of five years from the date of grant. The grant of the Options is subject to the terms of the Corporation's incentive stock option plan (the "Stock Option Plan") and the approval of the TSX Venture Exchange.
In addition to the foregoing issuance, in connection with the announcement of the Corporation's strategic partnership with Bell Media on June 7, 2017, the Board has approved the grant of an additional 1,258,930 incentive stock options to certain officers and directors of the Corporation. The Options have an exercise price of $2.00 per share and are exercisable for a period of five years from the date of grant. 503,572 of the Options will vest immediately on the date of grant and 755,358 will vest equally over a three year period. The grant of the Options is subject to the terms of the Stock Option Plan and the approval of the TSX Venture Exchange.
About Wow Unlimited Media Inc.
Wow Unlimited Media Inc., (formerly Rainmaker Entertainment Inc.), is creating a leading next-generation kids and youth animation business by focusing on digital platforms and content. Wow's key assets include: the world's No. 1 digital animation network, Frederator Networks, which consists of an animation production company Frederator Studios, as well as VOD channels on digital platforms; the world's first Hispanic animation network, Atomo Network, a joint venture with Anima Estudios; and one of Canada's largest, multifaceted animation production studios, Rainmaker Entertainment, which consists of Mainframe Studios that produces CGI animated television series, and Rainmaker Studios that produces long-form animated features.
Certain information set forth in this press release constitutes "forward-looking statements" and "forward-looking information under applicable securities laws (collectively, "forward-looking statements"). These statements relate to future events or future performance. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, both general and specific. In evaluating these statements, readers should specifically consider risks which may cause actual results to differ materially from any forward-looking statement. The forward-looking statements contained herein are based upon certain assumptions considered reasonable at the time they were prepared. Should one or more of the risks or uncertainties identified herein materialize, or should the assumptions underlying the forward-looking statements prove to be incorrect, then actual results may vary materially from those described herein. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Corporation does not assume any obligation to update the forward-looking statements contained herein.
Neither the 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 press release.