Cryptologic Announces Stock Option Grants
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104.1
CRYPTOLOGIC ANNOUNCES STOCK OPTION GRANTS
TORONTO, Ontario, October 21, 2020
-
Cryptologic
Corp
. (“Cryptologic” or the “Company”) (CSE:CRY)
today announces that its Board of Directors has approved the grant of stock options for a
total of 4,600,000
common shares of the Company to officers and directors of the Company. Each of these stock options has
an exercise price of CDN $0.27 and will expire on October 20, 2025. These stock options will also vest over
a period of 12 months foll
owing the grant date and are governed by the terms and conditions of the
Company's stock option plan.
Following this grant of stock options, the Company has a total of 4,816,667 stock options outstanding, which
represents approximately 9.9% of the outstand
ing common shares of the Company.
For information or interview please contact:
Joshua Lebovic
Chief Financial Officer
(647) 715
-
3707
About Cryptologic Inc.
Cryptologic Corp. is currently a cryptocurrency mining company that is focused on divesting its cr
ypto
mining assets and exploring acquisition opportunities in sectors outside of cryptocurrency mining.
Cautionary Note Regarding Forward
-
Looking Information
Certain statements in this press release, including statements with respect to the Company’s focus on
divesting its crypto mining assets and exploring acquisition opportunities in sectors outside of
cryptocurrency mining, and the vesting of the recently gr
anted stock options, contain forward
-
looking
information which can be identified by the use of forward looking terminology such as "believes", "expects",
"may", "desires", "will", "should", "projects", "estimates", "contemplates", "anticipates", "intends",
or any
negative such as "does not believe" or other variations thereof or comparable terminology. No assurance
can be given that potential future results or circumstances described in the forward
-
looking statements will
be achieved or will occur. By their
nature, these forward
-
looking statements necessarily involve risks and
uncertainties, including the risk that costs will be higher than anticipated reducing margins, that expense
reductions will not be realized, the risk that the price of power to the Com
pany increases and other risks
and uncertainties discussed herein, that could cause actual results to significantly differ from those
contemplated by these forward
-
looking statements. Such statements reflect the view of the Company with
respect to future e
vents and are based on information currently available to the Company and on
assumptions, which it considers reasonable. Management cautions readers that the assumptions relative
to the future events, several of which are beyond management's control, coul
d prove to be incorrect, given
that they are subject to certain risk and uncertainties, and that actual results may differ materially from those
projected. Other factors which could cause results or events to differ from current expectations include,
among
other things, the impact of general economic, industry and market conditions. Management
disclaims any intention or obligation to update or revise any forward
-
looking statements whether as a result
of new information, future events or otherwise, except as
required by applicable securities laws. The reader
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104.1
is cautioned not to place undue reliance on forward
-
looking information. The Canadian Securities Exchange
has not reviewed, approved or disapproved the content of this news release.