VANCOUVER, BC--(Marketwired - December 30, 2016) - HIT Technologies Inc. (the "Company") (TSX VENTURE: HIT) is pleased to announce that it has entered into a letter agreement with Mr. Robert Chase, a director of the Company, to issue common shares in the capital of the Company ("Common Shares") to Mr. Chase in consideration of certain past services provided by Mr. Chase to the Company. Mr. Chase is continuing his role as a director of the Company.
Pursuant to a letter agreement dated December 30, 2016 between Mr. Chase and the Company, the Company issued an aggregate of 439,359 Common Shares to Mr. Chase at a deemed price of $0.05 per Common Share in consideration for certain past services provided by Mr. Chase to the Company up to and as of the date of the letter agreement. The Common Shares issued to Mr. Chase will be subject to a four-month hold period which will expire on April 30, 2017.
About HIT Technologies Inc.
The Company develops and markets a portfolio of products that transform Apple iPhones into high-performing, weather- and shock-resistant video cameras. Both of its flagship products, HITCASE PRO and its newer SNAP, allow users to easily capture action photo and video content hands-free, using a variety of the Company's patented Railslide™ mounts that attach to virtually any surface. Swappable lenses and accessories provide a variety of perspectives otherwise unattainable while participating in adventure sports. The Company is headquartered in Vancouver, British Columbia, Canada and trades on the TSX Venture Exchange (TSX VENTURE: HIT). For more information about HITCASE, visit www.HITCASE.com. Search #hitcase on Instagram to see some of the amazing images created by HITCASE customers.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information 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 of this press release.
This press release may contain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, anticipations, expectations, opinions, forecasts, projections, guidance or other similar statements that are not statements of fact. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.