TORONTO, ONTARIO--(Marketwired - October 24, 2013) - Loyalist Group Limited (TSX VENTURE: LOY) announces that it has granted options under its stock option plan to purchase an aggregate of 3,885,000 common shares at an exercise price of $0.50. The options are for a term of 5 years and are exercisable immediately as to 25% and as to an additional 25% on each of the first, second and third anniversary of the date of grant. The number of options granted represents approximately 2.9% of the total shares outstanding and, of the total number of options granted, options to purchase 2,350,000 common shares were granted to insiders of the Company.
Loyalist owns and operates private education schools in Toronto, Vancouver, and Victoria offering (i) English as a Second Language Courses for international students; (ii) Training programs for teachers, commonly known as TESL; (iii) Professional Development Courses; and (iv) Corporate English for Professionals.
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.