UGE International Ltd. Announces Grant of Options and Restricted Share Units
NEW YORK, NY--(Dec 9, 2015) - UGE International Ltd. (the "Company" or "UGE") (www.ugei.com) (TSX VENTURE: UG) (OTCQB: UGEIF), is announcing the grant of restricted share units ("RSUs") and stock options ("Options") to certain directors and employees of the Company.
In accordance with the Company's Restricted Share Unit Plan (the "RSU Plan"), the Company granted an aggregate of 216,000 RSUs to the independent directors. The Company also granted an aggregate of 138,000 Options to certain directors and an employee in accordance with the Company's Stock Option Plan. Each Option entitles the holder to acquire one common share of the Company at an exercise price of $0.78 per share. The Options expire five years from the date of grant. The grant of RSUs and Options are subject to the terms of the RSU Plan and the Stock Option Plan respectively, and final regulatory approval.
UGE is a leading full service renewable energy provider for commercial and industrial clients, with over 2,000 installations in more than 100 countries. Leveraging project financing and its proprietary technology platform, UGE deploys solar and microgrid energy solutions to reduce energy costs and increase resiliency, while making the world more sustainable.
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.
Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy generally, regulatory approvals, participation in the Offering, competition in UGE's target markets, the demand for UGE's products, and the availability of funding. These forward-looking statements are made as of the date hereof and UGE does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from UGE's expectations and projections.