TORONTO, ON--(Marketwired - November 21, 2016) - Keek (TSX VENTURE: KEK) (OTCQB: KEEKF) today announced that in accordance with the Company's Stock Option Plan, options to purchase 1,955,000 common shares at an exercise price of $2.00 were granted by the Board of Directors on November 18, 2016. The options vest over a 12 month period as to 20% immediately and 20% every 3 months thereafter, and expire 5 years from the date of grant. The closing price of the Company's stock on the TSXV on November 17, 2016, was $1.40 and on November 18, 2016, was $1.68. Of the 1,955,000 options approved for grant, 665,000 were issued to directors and officers of the Company, and 1,290,000 were issued to employees and consultants.
"Keek is fortunate to have an exceptional group of engineers, developers, consultants, influencers, and many others, all working towards building a world class livestreaming social commerce service. They have added and continue to add an incredible amount of value to the Company, and this grant is to encourage and incentivize their continued invaluable contributions," said Mark Itwaru, CEO of Keek.
Keek also announced that it has received notices of option and warrant exercises which will result in the issuance of 820,500 common shares. In total, 520,500 warrants have been exercised at a price of $0.30 per share and 300,000 options have been exercised at a price of $1.12 per share, resulting in total gross proceeds of $492,150 being received by the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.