Montreal, Quebec--(Newsfile Corp. - April 7, 2020) - Golo Mobile Inc. (TSXV: GOLO) ("GOLO" or "the Company"), today announced that per the cost cutting initiatives the Company implemented on March 26, 2020, including reductions in employee compensation, GOLO has granted 509,900 stock options (each, an "Option") in accordance with the Company's incentive stock option plan, subject to the approval of the Tsx Venture Exchange Inc. to certain GOLO officers and employees in order to provide long-term compensation and enhance employee retention.
Each Option is exercisable into one common share in the capital of the Company (each, a "share") at a price of $0.26 per Share, being the closing price of the Shares on the Tsx Venture Exchange on April 7, 2020, for a period of 10 years from the date of the grant.
About GOLO Mobile Inc.
GOLO provides time saving convenience for daily tasks to individuals in high-population density areas. The Company's focus is on office buildings, residential towers, corporate campuses, hospitals, airports and other highly populated areas. GOLO is publicly traded on the TSXV and its controlling shareholder is controlled indirectly by affiliates of Blackstone Group L.P. and the funds comprising CVC Capital Partners VI.
For Further Information:
Peter Mazoff, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) is responsible for the adequacy or accuracy of this press release.
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