Prospect Park Capital Corp.

July 25, 2016 11:04 ET

Prospect Park Capital Announces Adoption of New Stock Option Plan and Grant of Incentive Stock Options

TORONTO, ONTARIO--(Marketwired - July 25, 2016) - Prospect Park Capital Corp. ("Prospect Park") (TSX VENTURE:PPK), a public healthcare focused investment corporation, announces that its board of directors has approved a new 20% fixed number stock option plan. Pursuant to the new option plan Prospect Park can grant up to 1,735,252 stock options. Prospect Park will seek TSX Venture Exchange approval for the new option plan and shareholder approval at its next annual shareholders meeting. Any options granted pursuant to the new option plan after the date hereof and prior to shareholder approval will also be subject to, and will not be exercisable until, shareholder approval.

Prospect Park also announces the grant of 998,061 stock options to its six officers and directors, at an exercise price of $0.05 per common share expiring on July 20, 2026. The new options granted shall become effective and exercisable only upon disinterested shareholder approval having been obtained. Including the grant announced today, Prospect Park currently has 1,735,252 stock options outstanding.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to Prospect Park and the approval of the new option plan and grants by the TSX Venture Exchange and shareholders, are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect Prospect Park's current views and intentions with respect to future events, and current information available to Prospect Park, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions were applied in providing forward-looking information, including that the new option plan and grants will be approved by the TSX Venture Exchange and disinterested shareholders at a meeting to be held within 12 months. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. These factors include changes in law, the ability to implement business strategies and pursue business opportunities, state of the capital markets, the availability of funds and resources to make investments and pursue operations, as well as general economic, market and business conditions, amongst others. Should any factor affect Prospect Park in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, Prospect Park does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release is made as of the date of this press release and Prospect Park undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

Neither 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

  • Prospect Park Capital Corp.
    Dr. Samuel Herschkowitz
    Chief Executive Officer
    (416) 865-7209