VANCOUVER, BC and SAN DIEGO, May 24, 2023 — CyberCatch Holdings, Inc. (“CyberCatch” or the “Company“) (TSXV: CYBE), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, is pleased to announce that it has granted an aggregate of 3,200,000 stock options (the “Options”) to officers, employees and advisors of the Company in accordance with the Company’s stock option plan (the “Plan”). The Options are exercisable at a price of $0.50 per share for a period of five years from the date of grant.
The Company’s founder, chairman and CEO, Sai Huda, decided to cancel 2,000,000 of his vested performance warrants with an exercisable price of $0.25 in March 2023 in order to contribute the 2,000,000 to the Options pool to be used to grant stock options to officers, employees and advisors.
“Our guiding principle at CyberCatch is to take exceptional care of our team so they are inspired to deliver the finest solution to our customers and superb results for our investors. This is just another way for me to personally thank, appreciate and inspire our exceptional team, while protecting our shareholders from any dilution,” said Sai Huda, founder, chairman and CEO, CyberCatch.
Of the 2,000,000 Options granted to officers of the Company, 1,000,000 Options will vest upon shareholder approval at the Company’s upcoming annual general meeting on July 5, 2023 (the “AGM”) and 1,000,000 Options will vest in monthly increments over the next 24 months from shareholder approval at the AGM. The remaining 1,200,000 Options are granted to advisors and employees of the Company, and will also vest in monthly increments over the next 24 months from shareholder approval at the AGM.
The TSX Venture Exchange had previously required and approved as part of the April 2023 Qualifying Transaction a customary ten (10) percent Options Pool and these 3,200,000 Options are granted from the Pool and subject to the terms of the Plan.
This news release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell the Company’s shares.
About CyberCatch
CyberCatch Holdings, Inc. (TSXV: CYBE) is a cybersecurity company that provides a proprietary, artificial intelligence-enabled (AI) Software-as-a-Service (SaaS) solution that enables continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: [email protected]
SOURCE CyberCatch
