TORONTO, May 28, 2025 (GLOBE NEWSWIRE) -- Clip Money Inc. (TSX-V: CLIP) (OTCQB: CLPMF) (“Clip Money” or the “Company”), a company that operates a multi-bank self-service deposit system for businesses, is pleased to announce the issuance of the previously announced 965,000 restricted share units (the “RSUs”) and 27,500 options to acquire common shares of the Company (the “Options”, and together with the RSUs, the “Awards”) to certain executives and employees to recognize their performance in 2024. In addition to the Awards announced on May 23, 2025, the Company is pleased to announce the grant of an additional 450,000 RSUs to certain directors of the Company, as compensation for their continuing role as directors.
All of the RSUs awarded to directors will vest 12 months after the date of the grant, and all of the RSUs awarded to executives and employees will vest over a three year period following the date of the grant, with one-third vesting every 12 months. The Options have a three-year vesting period, with an exercise price equal to CAD$0.19, being the closing market price of Clip Money’s common shares on May 27, 2025, and will expire 10 years from the date of the grant. The RSUs and Options will be governed by the terms of the Company’s amended and restated omnibus equity incentive plan, under which an aggregate of 10,516,419 Common Shares are issuable.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
About Clip Money Inc.
Clip operates a multi-bank self-service deposit system for businesses through the Clip Money network that gives users the capability of making deposits outside of their bank branch at top retailers and shopping malls. Rather than having to go to their personal bank branch or using a cash pickup service, businesses can deposit their cash at any ClipDrop Box or ClipATM located near them. After being deposited, the funds will automatically be credited to the business’ bank account, usually within one business day. The Company combines functional hardware, an intuitive mobile app and an innovative cloud-based transaction engine that maximizes business-banking transactions. Combined with mobile user applications, Clip offers a cost-effective and convenient solution for business banking deposits in metropolitan statistical areas across Canada and the United States. For more information about the Company, visit www.clipmoney.com.
For further information, please contact:
Joseph Arrage
Chief Executive Officer
tel: 844-593-2547
