PUDO Inc. Announces Updates to the Company's Stock Options
TORONTO, July 13, 2017 /PRNewswire/ - PUDO Inc. ("PUDO" or "the Company") (CSE:PDO; OCTQB: PDPTF), North America's only courier-neutral parcel pick-up and drop-off network, announced today that their management team has exercised options for shares, and the Company has granted stock options for performance.
PUDO CEO Frank Coccia this week exercised 1.2 million options for shares in PUDO Inc.
At the same time, a Director of PUDO exercised options that were previously granted in 2015, resulting in the issuance of 150,000 shares. This investment is in addition to the substantial open market purchases this director has made in the past year.
As part of the Company's overall incentive option plan for team members, the board of directors, a number of employees and consultants to the company were granted stock options in recognition of their contributions to the growth of PUDO Inc.
"The team at PUDO has been working diligently, preparing our systems and expanding our customer base to enable the next step in our company's growth," said Frank Coccia, CEO of PUDO Inc. "Our team's cross section of experience combined with their focus on the opportunities that this disruptive service will offer to online shoppers around North America is propelling us to grow. We are pleased to offer them incentive options for their past and continued efforts."
A total of 322,000 options were issued at $1.20 in exchange for one common share. A portion of the options vest immediately, with the remainder vesting later this year. Options expire on two dates - August 16, 2019 and August 31, 2020.
About PUDO Inc.
Founded in 2015, PUDO Inc. is developing North America's only carrier-neutral parcel pick-up and drop-off network. No other company in North America offers staffed retail locations equipped to receive consumer deliveries by any carrier. PUDOpoints include convenience stores, gas stations, mini-marts and grocery stores.
PUDO offers customers with a fully customizable and convenient method of delivery. Through the PUDOpoint™ network, consumers can control parcel deliveries – receiving online parcels wherever they want, whenever they want. When packages arrive at their preferred PUDOpoint, customers are automatically notified via text message or email that their package has arrived and is ready for pick-up. E-commerce companies and other shippers utilizing PUDO can save on residential "last-mile" delivery costs, and consumers can avoid the frustration and inconvenience of missed or stolen deliveries. The final destination of the parcel becomes the safe, fully-staffed retail environment of a PUDOpoint.
With a growing network of PUDOpoint locations across the U.S. and Canada, PUDO is revolutionizing the North American parcel-shipping model. PUDO was recently named one of the Top 20 most innovative public technology companies by the Canadian Innovation Exchange.
Information in this news release that is not current or historical factual information may constitute forward- looking information within the meaning of securities laws. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law.
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