PUDO Inc announces updates to the company’s stock options
TORONTO, July 13, 2017 /CNW/ – PUDO Inc. (“PUDO” or “the Company”) (CSE: PDO; OTCQB: PDPTF), North America’s only courier neutral parcel pick-up and drop-off network, announced today that the Management team has exercised options, and the Company granted options for performance.
Options Exercised
Frank Coccia, CEO of PUDO, this week exercised 1.2 Million options for shares in PUDO Inc.
At the same time, a Director of PUDO exercised options that we previously granted in 2015 resulting in the issuance of 150,000 shares. This investment is in addition to the substantial open market purchases this director has made in the past year.
Options Granted
As part of the Company’s overall incentive option plan for team members, the board of directors, a number of employees and consultants to the company were granted Stock Options in recognition of contributions to the growth of PUDO Inc.
“The team at PUDO has been working diligently preparing our systems and expanding our customer base to enable the next step in our company’s growth. Our teams cross section of experience combined with their focus on the opportunities that this disruptive service will offer to online shoppers around North America are propelling us to grow. We are pleased to offer them incentive options for their past and continued efforts”, said Frank Coccia, CEO or PUDO Inc.
A total of 322,000 Options were issued at $1.20 in exchange for one common share. A portion of the options vest immediately, with the remainder vesting later this year. Options expire on two dates, some August 16, 2019, with the remainder expiring August 31, 2020.
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About PUDO Inc.
Founded in 2015, PUDO Inc. is developing North America’s only “carrier-neutral” parcel pick-up/drop-off network. No other company in North America offers staffed retail locations; open for extended hours, to receive consumer deliveries by any carrier. PUDOpoints include convenience stores, gas station minimarts, and grocery stores in local communities.
Through the PUDOpoint™ network, consumers can control parcel deliveries – receiving online parcels wherever they want, whenever they want – a fully customizable and convenient method of delivery. When packages arrive at the chosen PUDOpoint, customers are automatically notified via text or email that their package has arrived and is ready for pick-up. E-commerce companies and other shippers utilizing PUDO can save on residential “last mile” delivery costs. Consumers can avoid the frustration and inconvenience of missed or stolen deliveries. The final destination of the parcel becomes the safe, staffed retail environment of a PUDOpoint.
With a growing network of PUDOpoint locations across the U.S. and Canada, PUDO is revolutionizing the North American parcel shipping model. PUDO was recently named one of the Top 20 most innovative public technology companies by the Canadian Innovation Exchange.
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding estimated revenues from new contracts, increased parcel volume, activation and implementation of PUDO’s technology and possible future expansions of PUDO’s operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO’s ability to integrate its new customers into its network and successfully execute on its new and existing contracts. The use of any of the words “anticipate”, “believe”, “expect”, “plan”, “intend”, “can”, “will”, “should”, and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company’s public documents filed on SEDAR. This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management’s reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law.
For further information about PUDO, please contact:
Karen Speight
1-506-694-1250,
karen.speight@pudopoint.com
SOURCE: PUDO Inc.
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