Personas Announces Stock Option Grant and Cancellation of Certain Stock Options

Rhea-AI Summary

Personas Social (TSXV: PRSN) has announced two key updates regarding its stock options. The company has granted 24,992,800 stock options to its directors and officers, following the expiration of their previous unexercised options. These new options are exercisable at $0.05 per common share for a 5-year period and will vest immediately, subject to TSX Venture Exchange approval.

Additionally, the company has cancelled 1,275,000 incentive stock options that were previously issued on August 29, 2023, to certain employees who have since resigned. These cancelled options had an exercise price of $0.10 per common share and were originally set to expire on August 29, 2027.

Positive

• New stock options granted at lower exercise price ($0.05) compared to cancelled options ($0.10)
• Immediate vesting of new options provides instant incentive alignment for directors and officers

Negative

• Cancellation of employee stock options indicates staff departures
• Large number of previous options expired unexercised, suggesting lack of stock price appreciation

Toronto, Ontario--(Newsfile Corp. - February 17, 2025) - Personas Social Incorporated (TSXV: PRSN) (the "Company") is pleased to announce that the Company has granted an aggregate of 24,992,800 stock options ("Options") pursuant to its stock option plan ("Stock Option Plan") to the directors and officers of the Company, subject to TSX Venture Exchange approval. These Options are being granted at this time as previous options issued to these directors and officers have since expired and went unexercised. The Options entitle the holder to acquire one common share of the Company for each Option held and will be exercisable at a price of $0.05 per common share for a period of 5 years from the date of grant, and will vest immediately. The Options were granted under and are subject to the terms and conditions of the Company's Stock Option Plan.

The Company has also confirmed the cancellation of an aggregate of 1,275,000 incentive stock options ("Cancelled Options") issued pursuant to its Stock Option Plan on August 29, 2023. The Options were granted to certain employees of the Company, and had an exercise price of $0.10 per common share and expired on August 29, 2027. The Cancelled Options were cancelled due to these employees resigning from their positions with the Company, and the requisite passage of time has taken place, pursuant to the Stock Option Plan, for the Company to cancel these said options.

About Personas
Personas Social Incorporated is a Canada-based company engaged in the business of offering live video conferencing technology, live streaming, social media products and services for use by consumers and businesses, with a focus on mobile (iOS and Android) products. It focuses on providing social commerce-enabled products which allow for a monetizable user experience to all users, consumers and businesses alike. The Company accomplishes this by offering products which are complete with enterprise-grade e-commerce infrastructure including multi-currency, multi-lingual, turnkey mobile commerce suites for users.

For further information, please contact:
Personas Social Incorporated
Mark Itwaru
Chairman & Chief Executive Officer
Telephone: 647-789-0074
Email: mark@personas.com

Forward-Looking Statements
This press release contains statements that constitute " forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

Although the Company believes, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include: information relating to the issuance and cancellation of certain stock options. Such statements and information reflect the current view of the Company. By their nature, forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements.

The forward-looking statements contained in this news release represent the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking statements and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management' s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241149

FAQ

How many new stock options did Personas Social (PRSN) grant in February 2025?

Personas Social granted 24,992,800 stock options to its directors and officers in February 2025.

What is the exercise price and duration of PRSN's new stock options?

The new stock options have an exercise price of $0.05 per common share and are exercisable for a period of 5 years from the grant date.

How many stock options were cancelled by Personas Social from the August 2023 grant?

Personas Social cancelled 1,275,000 incentive stock options that were originally granted on August 29, 2023.

Why did Personas Social cancel the August 2023 stock options?

The stock options were cancelled due to the resignation of employees who held these options, following the requisite waiting period specified in the Stock Option Plan.