Mega View Digital Entertainment Corp. Grants Incentives Pursuant to Share Incentive Plan
Toronto, Ontario--(Newsfile Corp. - January 21, 2014) - Mega View Digital Entertainment Corp. (TSXV: MVD.H) (the "Company") announces that, pursuant to its share incentive plan dated September 20, 2013 (the "Share Incentive Plan"), it has issued an aggregate of 250,000 common shares to certain directors and officers of the Company. Each common share was issued at a deemed value of $0.05 per share.
The issuance of common shares to persons who are "related parties" of the Company constituted a "related party transaction" (as such terms are defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company relied on an exemption from the formal valuation requirements of MI 61-101 pursuant to which no formal valuation is required where the securities of an issuer carrying out a related party transaction are not listed or quoted on certain stock exchanges. The Company also relied on an exemption from the minority approval requirements of MI 61-101 pursuant to which minority approval is not required where the fair market value of the subject matter of the related party transaction does not represent greater than 25% of the Company's market capitalization.
The Company also announces that, pursuant to the Share Incentive Plan, it has granted options to purchase 250,000 common shares to certain directors and officers of the Company. The options shall be exercisable at a price of $0.05 per share for a term of three years from the date of grant, and shall vest two years after the date of grant.
For further information please contact:
Mega View Digital Entertainment Corp.
Si Quan - Chief Executive Officer
CAUTIONARY STATEMENT: 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.