August 22, 2011 08:00 ET

ePals Corporation Grants Stock Options and Restricted Share Units

HERNDON, VA--(Marketwire - Aug 22, 2011) - ePals Corporation (TSX-V: SLN) (the "Corporation"), an education technology company and leading safe social learning network, announces that it has granted to certain employees of its wholly-owned subsidiary, ePals, Inc. ("ePals"), stock options to acquire a total of 93,085 restricted voting common shares of the Corporation. The stock options are exercisable, once vested, at a price of C$0.64 per share for a period of 10 years, with 1/12 of the options vesting quarterly in equal amounts over the next 12 quarters. The stock options were granted pursuant to the Corporation's incentive stock option plan.

The Corporation also awarded to certain directors, officers and employees of the Corporation and ePals a total of 1,491,909 restricted share units (each a "RSU") which may be redeemed, once vested, for an equal number of restricted voting common shares of the Corporation. A total of 515,250 RSUs vested on the grant date. The balance of the RSUs vest over various periods of time ranging for quarterly to annually, with all RSUs vesting no later than three years from the date of grant. The RSUs were awarded pursuant to the Corporation's restricted share unit plan.

The shares issuable upon exercise of the stock options or redemption of the RSUs are subject to a hold period of four months and one day commencing on the date of grant or award.

About ePals Corporation

The Corporation (TSX-V: SLN) is an education technology company and leading safe social learning network (SLN). Focused on the K-12 market, ePals offers primary and secondary schools, teachers, students and parents worldwide a safe and secure platform for building educational communities, providing quality digital content and facilitating collaboration for effective 21st century learning. ePals' award-winning products include: the ePals Global Community™; SchoolMail®365, LearningSpace® and In2Books®, a curriculum-based e -mentoring program that builds reading, writing and critical thinking skills. ePals customers and partners include International Baccalaureate, Microsoft Corporation, Dell, Inc., IBM Corp., National Geographic and leading school districts across the United States and globally. ePals serves approximately 700,000 educators and reaches millions of teachers, students and parents in approximately 200 countries and territories. For the ePals Global Community, visit Corporate information is available at

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 release.

Contact Information

  • Contact Information
    For further information, please contact:

    Aric Holsinger
    Chief Financial Officer
    ePals Corporation
    Tel: (703) 885-3400

    Jacqueline Van Meter
    Senior Marketing Manager
    ePals Corporation
    Phone: (703) 885-3400