MARKHAM, ONTARIO--(Marketwired - June 22, 2016) - Sangoma Technologies Corporation (TSX VENTURE:STC) today announced the grant of stock options effective June 22, 2016.
The Company today granted 1,047,000 options to employees of Sangoma. The options have an exercise price of $0.30, expire in 5 years and vest over a period from 1 year to 5 years. The grant brings the total number of options granted under the current plan to 5,519,160.
The Board of Directors also announced an increase, subject to TSX Venture Exchange and disinterested shareholder approval, to the number of options in the stock option plan of 657,000 which would bring the total options in the pool to 6,199,160. In accordance with the plan increase the Company granted a further 450,000 options today to directors and employees at an exercise price of $0.30 which expire in 5 years. These grants are conditional upon the approval of the stock option plan pool increase by the TSX Venture Exchange and disinterested shareholders at the next Annual and Special Meeting of Shareholders at which point they will, if approved, vest over a period from 1 year to the time of expiry.
About Sangoma Technologies Corporation
Sangoma is a leading provider of hardware and software components that enable or enhance IP Communications Systems for both telecom and datacom applications. Sangoma's data boards, voice boards, gateways and connectivity software are used in leading PBX, IVR, contact center and data-communication applications worldwide. The product line includes both hardware and software components that offer a comprehensive toolset for deploying cost-effective, powerful, and flexible communication solutions.
Founded in 1984, Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE:STC). Additional information on Sangoma can be found at: www.sangoma.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.