August 04, 2016 08:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 4, 2016) - Moovly Media Inc. ("Moovly" or the "Company") (TSX VENTURE:MVY) announces that it has granted stock options to acquire up to 6,500,000 common shares of the Company of which an aggregate of 2,000,000 were granted to certain directors and officers of Moovly. Each of the stock options is exercisable for a five year term expiring on August 4, 2021 and exercisable until that time at a price of $0.24 per common share. On August 3, 2016, the last day that the Company's common shares traded prior to the granting of the stock options, the closing price of the common shares on the TSX Venture Exchange was $0.235 per share. The stock options vest over a period of four years. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four month resale restriction expiring on December 5, 2016.
For additional information regarding Moovly, please refer to its website at www.moovly.com.
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.
Moovly Media Inc.Brendon GrunewaldPresident, CEO and Director(778) 888 - 7336
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