GuestLogix, Inc. (TSX VENTURE: GXI), announced today that its Board of Directors has authorized the grant of 949,598 options to the Company's senior officers, directors, employees and contractors as follows: Name No. of Vesting ---- Options -------
------- Senior Officers 370,000 Vesting annually in arrears on November
30, 2010; November 30, 2011; and,
November 30, 2012 Directors 90,000 Vesting quarterly in arrears on March 31,
2010; June 30, 2010, September 30, 2010;
and, December 31, 2010 Employees 549,598 Vesting annually in arrears on November and 30, 2010; November 30, 2011; and, contractors November 30, 2012
Each option entitles its holder to purchase one common share for $0.95, expires December 30, 2014, and is subject to further terms set forth in the Company's stock option plan. There are 6,655,932 common shares reserved for issuance pursuant to options that may be granted under the Company's stock option plan, with 1,140,951 common shares remaining to be issued.
GuestLogix is the leading provider of onboard retail technology and solutions to the passenger travel industry. Through its industry standard onboard transaction processing engine, the Company provides carriers the tools to become successful onboard retailers, and by way of its OnTouch(TM) merchandising platform, it facilitates innovative products and services to enhance passenger experience and propel ancillary revenue growth. With a customer base comprising nine of the top 11 global airlines, GuestLogix maintains contracts to serve more than 35 per cent of the world airline passenger traffic via its proprietary platform based on the 2008 passenger data compiled by Air Transport Intelligence (ATI). To date in 2009, GuestLogix has been named one of Canada's Top 100 fastest growing companies by Profit Magazine, one of Canada's Top 100 technology companies according to Canadian Business Magazine, and the Company ranked as one of Deloitte's 50 fastest growing Canadian technology companies. Additional information on GuestLogix can be found at guestlogix.com and ontouch.com.
This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with GuestLogix' business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts, but reflect GuestLogix' current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks and Uncertainties" in the Filing Statement filed on October 15, 2009 with the regulatory authorities. GuestLogix assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
5/8 2009 GuestLogix. All Rights Reserved. All other trademarks and trade names are the property of their respective owners.
Neither 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.