Jasper Commerce Announces Insider Buying of Shares and Stock Option Grant
VANCOUVER, BC, October 26, 2022 /CNW/ – Jasper Commerce Inc. (TSXV: JPIM) (“Jasper”or the “Company”), a leading provider of Product Information Management (“PIM”) solutions, announces that management and directors acquired 380,000 common shares of Jasper in the open market between October 14 and October 24, at prices ranging from $0.05 to $0.10 per share. Complete details are available at SEDI.ca. With the Company expected to file its audited annual financial statements and related MD&A for the fiscal year ending July 31 2022 at the end of November, insiders are now restricted from purchasing further shares on the open market, in accordance with the Company’s insider trading policies. Management and the Board’s purchases reflect confidence in the intrinsic value of the stock, near-term and long-term growth prospects, and the outstanding team that work at the Company. With these purchases, insiders now own 20,383,000 shares, or about 35% of the Company’s basic outstanding shares as of April 30, 2022.
The Company also announces that it has granted an aggregate of 1,490,000 stock options under the Company’s stock option plan to the directors, employees, and officers of the Company with an exercise price of $0.125 per common share, representing the stock’s highest closing market price since June 29, 2022, exercisable for a period of five years from the date of grant. One third of the stock options vest on October 24, 2023, one third vest on October 24, 2024, and one third vest on October 24, 2025.
About Jasper Commerce Inc.
Jasper offers a Product Information Management (” PIM “) solution that has the objective of empowering eCommerce merchants to manage and merchandise their products from a single source of truth, facilitating them to sell more, sell faster and work smarter. Jasper’s PIM is accessible from anywhere via a web-browser and is intended to simplify the process by which online merchants import product data into the PIM. Once uploaded, merchants can add various product data including product attributes, images, videos, marketing information, inventory quantities and price books and efficiently merchandise their products using various features that include, among other things, the ability to adjust product categorization, pricing data and other key metrics. Jasper’s PIM also allows for automatic syncing to popular eCommerce storefronts, marketplaces, or other connected channels, whenever new products are added to the PIM.
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.
Investors are cautioned that, except as disclosed in the Filing Statement prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Transaction and has neither approved nor disapproved the contents of this press release.
For further information, please contact
Jon Marsella, CEO
Nikhil Thadani, Investor Relations
Forward Looking Statements
The information in this news release includes certain information and statements about management’s view of future events, expectations, plans and prospects that constitute forward looking statements, including statements relating to the acceptance of the Transaction by the TSX Venture Exchange, the closing of the Transaction, the financial performance of the Company on its own and on a combined post-Transaction basis, and the business plans of the Company. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Any number of factors could cause actual results to differ materially from these forward‐looking statements as well as future results. Although the Company believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise. SOURCE Jasper Commerce, Inc.