C-COM Announces Amendment to Its Option Plan
Ottawa, Ontario--(Newsfile Corp. - May 20, 2020) - C-COM Satellite Systems Inc. (TSXV: CMI) today announced that it has amended its option plan to set the number of common shares available for issuance pursuant to options granted under the plan to 7,618,320 common shares, being an amount equal to 20% of the outstanding common shares as of May 1, 2020 and to increase to the limit on the number of common shares that may be reserved for grants to Insiders (as defined in the rules of the TSX Venture Exchange) to 15% of the issued common shares. The establishment of the new option pool was approved by C-COM's shareholders at a meeting held on May 1, 2020. All option plan amendments require approval of the TSX Venture Exchange.
About C-COM Satellite Systems Inc.
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 8,500 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 potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. In cooperation with the University of Waterloo, C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals.
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
The Company is publicly traded on the Canadian Venture Exchange (TSXV: CMI) (CVE: CMI) and on the US OTC Exchange (OTC: CYNSF).
C-COM Satellite Systems Inc.
Tel: (613) 745-4110 ext. 4950
Fax: (613) 745-1172
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