Lorne Park Capital Partners Inc. Announces the Issuance of Shares Pursuant to Its Employee Share Savings Plan and Announces Option Grants
Toronto, Ontario--(Newsfile Corp. - March 1, 2023) - Lorne Park Capital Partners Inc. (TSXV: LPC) ("LPCP" or the "Company") today announced the issuance of shares pursuant to its Employee Share Savings Plan ("ESSP") and announced option grants pursuant to its Stock Option Plan.
Issuance of Shares Pursuant to ESSP
LPCP announced that pursuant to its ESSP, the Company has issued a total of 94,193 common shares of LPCP to eligible employees at a price of $1.30, for aggregate proceeds of $122,451. Of these common shares, 29,371 shares were issued to certain directors and officers of the Company.
LPCP also announced that it has granted 755,500 aggregate incentive stock options to various employees, officers, and directors of the Company, under its Stock Option Plan. The options are exercisable at $1.30 per common share, vest over a three-year period, and expire on March 1, 2033. Of these options, 615,000 were granted to certain directors and officers of the Company.
About Lorne Park Capital Partners Inc.
LPCP was created to bring together boutique investment management and wealth advisory firms in order to deliver robust, cost-effective investment solutions to affluent investors, foundations, estates and trusts. LPCP's unique strategy creates better alignment between investment managers and wealth advisors while providing them with additional resources to accelerate their growth.
For further information, please contact:
Chief Executive Officer
Lorne Park Capital Partners Inc.
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.
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", "plan", and other similar expressions. Forward-looking information in this news release includes, without limitation, LPCP's objectives, goals, and future plans. Forward-looking information addresses possible future events, conditions and financial performance based upon management's current expectations, estimates, projections, and assumptions. In particular, the forward-looking information contained in this news release reflects assumptions about the timing and results of the amalgamation and regulatory approvals. Management of LPCP considers the assumptions on which the forward-looking information contained herein are based to be reasonable. However, by its very nature, forward-looking information inherently involves known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such information. Such risks include, without limitation, changes in economic conditions, applicable laws, or regulations. Accordingly, readers are cautioned not to place undue reliance on forward-looking information. LPCP disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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