VoodooVox Inc.
CNSX : VVX

VoodooVox Inc.

November 14, 2013 10:06 ET

VoodooVox Inc. Announces Stock Option Grants and Voluntary Stock Option Surrender Program

TORONTO, ONTARIO--(Marketwired - Nov. 14, 2013) - VoodooVox Inc. (CNSX:VVX) ("VoodooVox" or the "Company") announces that pursuant to its Stock Option Plan (the "Plan"), the Company granted 9,000,000 incentive stock options to various employees, directors, and consultants. The aggregate number of shares reserved for issuance under the Plan is up to 15% of the number of outstanding common shares. The Company's outstanding options were far below this limit due to the conversion of the Company's debt into shares announced on September 3, 2013 and the issuance of new shares pursuant to a private placement announced on September 5, 2013. Options awarded to directors and former directors vested immediately. One third of the options awarded to employees and consultants vested immediately with the remaining two thirds vesting monthly over a 24 month period. The options are exercisable at $0.10 per share until November 7, 2018.

In addition, the Company has instituted a voluntary stock option surrender program. Under the program, various employees and directors can surrender up to 575,250 previously issued stock options for cancellation. The exercise prices associated with these options are significantly in excess of the current trading price of the Company's common shares and management and the directors of the Company are of the view that these options are providing limited motivational benefit for employees. The Company intends to replace the surrendered options after a 30 day waiting period. The replacement options will have an exercise price equal to the market price on the grant date, will vest immediately and will expire 5 years after the date of grant.

About VoodooVox Inc.

VoodooVox is a leader in performance based mobile advertising processing billions of transactions for a marquee list of global clients, agencies, advertisers and publishers. Our full service mobile ad network and campaign management platform drive targeted consumer sales leads to national and local advertisers on a pay for performance basis through mobile PayPerCall, PayPerClick and InCallMedia using real-time campaign performance and enhanced Caller Analytics. We also provide platform services in call analytics, call tracking, and hyper local campaign targeting to a growing list of mobile ecosystem partners. Visit www.voodoovox.com for more info.

The CNSX has neither approved nor disapproved the contents of this news release.

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