MARKHAM, Ontario, Sept. 30, 2023 (GLOBE NEWSWIRE) — Sangoma Technologies Corporation (TSX VENTURE:STC), a trusted leader in delivering cloud-based Communications-as-a-Service solutions, today granted 2,000,000 stock options to its employees and directors conditional upon the approval of the TSX Venture Exchange.
The options exercise price is $3.39 which is the September 30, 2023 closing market price of the Company’s common shares on the TSXV. All the options will expire in 5 years with 1,560,000 of the options vesting over a period from 1 year to 4 years and the remaining 440,000 options vesting based on certain share price targets being achieved.
The grant was made under the Company’s stock option plan that was amended following shareholder approval at the Annual and Special Meeting held on December 17, 2020, and as more fully described in Sangoma’s Management Information Circular dated November 20, 2020 available at www.sedar.com.
About Sangoma Technologies Corporation
Sangoma Technologies is a trusted leader in delivering value-based Communications as a Service (CaaS) solutions for businesses of all sizes. Sangoma’s cloud-based Services include Unified Communication (UCaaS) business communications, Meetings as a Service (MaaS), Communications Platform as a Service (CPaaS), Trunking as a Service (TaaS), Fax as a Service (FaaS), Device as a Service (DaaS), and Access Control as a Service (ACaaS). In addition, Sangoma offers a full line of communications Products, including premise-based UC systems, a full line of deskphones and headsets, and a complete connectivity suite (gateways/SBCs/telephony cards). Sangoma’s products and services are used in leading UC, PBX, IVR, contact center, carrier networks, office productivity, and data communication applications worldwide. Sangoma is also the primary developer and sponsor of Asterisk and FreePBX, the world’s two most widely used open source communication software projects.
Sangoma Technologies Corporation is publicly traded on the TSX Venture Exchange (TSX VENTURE: STC). Additional information on Sangoma can be found at: www.sangoma.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
