C-COM Announces Amendment to Option Plan
Ottawa, Ontario--(Newsfile Corp. - May 11, 2022) - C-COM Satellite Systems Inc., (TSXV: CMI) (OTCQB: CYSNF) a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced today, that it has received shareholder approval to amend its option plan to set the number of common shares available for issuance pursuant to options granted under the plan at 8,176,280 common shares, being 20% of the issued and outstanding common shares.
This increase to the option pool was previously described in the meeting materials for C-COM's annual shareholder meeting held on May 10, 2022, and the increase was approved by shareholders at that meeting. All option plan amendments require approval of the TSX Venture Exchange.
About C-COM Satellite Systems Inc.
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C-COM Satellite Systems Inc. is a pioneer and world leader in the design, development, and manufacture of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 10,000 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company's iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in late-stage development of a revolutionary Ka-band, electronically steerable, flat panel phased array antenna system, in cooperation with the University of Waterloo, with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime applications. For additional information please visit www.c-comsat.com
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
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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.
Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management's current expectations and assumptions. Statements about C-COM's expectations as to its ability to weather the challenges it faces, future prospects, growth and revenue, and statements about its electronically steered phased array antenna, including the potential for it become a commercially available product are all forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Anticipated benefits of the new technology may not be realized within the time frames anticipated or at all, and new products and services may not be released or, if released may not gain market acceptance. Any of those events and others could influence future performance and C-COM Satellite Systems Inc.'s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM Satellite Systems Inc. does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the risk factors associated with the business of C-COM Satellite Systems in the company's most recent MD&A available at www.SEDAR.com.
C-COM Satellite Systems Inc.
Tel: (613) 745-4110 ext. 4950
Fax: (613) 745-7144
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/123613