Platinum Communications Corp. (“Platinum” or the “Corporation”) (TSX-V: PCS) today announced that subject to regulatory approval, options to acquire up to 2,150,000 common shares of the Corporation were granted today to certain directors, officers, employees and consultants pursuant to the Corporation’s stock option plan. Of this number, 1,800,000 options were granted to directors and officers of Platinum. Each of the options is for a five year term, expiring on January 18, 2018, and is exercisable at a price of $0.11 per share. The closing price of Platinum’s common shares as at January 18, 2013 was $0.11.
Platinum also announces that, subject to approval from the TSX Venture Exchange Inc. (“TSXV”), it has agreed to issue 111,111 common shares to a consultant of Platinum, in consideration of certain past services provided to Platinum. Platinum has also requested approval from the TSXV to issue 262,222 common shares to certain officers of Platinum in accordance with Platinum’s Executive Stock Compensation Plan.
A total of 373,333 common shares will be issued at a deemed price of $0.09 each pursuant to statutory exemptions from the prospectus requirements under applicable securities laws. Resale restrictions will apply to these shares in accordance with applicable laws.
Platinum Communications Corporation (TSX-V: PCS) is a leading provider of superior quality fixed wireless Internet and Broadband solutions in Alberta. Based in Calgary, Platinum operates a wireless broadband network that utilizes Next-Generation Wimax technology to bring fast, reliable and affordable Internet and digital phone service to residents and businesses across the province. Serving approximately 13,000 customers in over 180 communities, Platinum caters primarily to rural and near-urban markets that are often beyond the reach of traditional Internet providers. Platinum’s high quality infrastructure, excellent service record and ever-growing network and capabilities, make it the provider of choice for customers within its vast coverage area. For more information please visit our website at www.platinum.ca or call 403-301-4591.
This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors or uncertainties, many of which are beyond Platinum's control. Some of these risks and uncertainties may be described in Platinum's corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward-looking statements due to new information or events.
Neither 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 news release.
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