TORONTO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV: ART), (OTCQB: ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, is pleased to announce the appointment of Richard Carl as Executive Chair ("Chair") of the Company, effective immediately. Mr. Carl has served as a member of the board of directors of the Company (the "Board") since 2020.
“Richard’s significant tenure on the Board, as well as his experience in private and public companies, including a wide range of operational, financial and M&A skills will serve the Company well,” commented Con Steers, ARHT’s current Chair.
Mr. Steers served as Chair for six years and will continue in his capacity as a director of ARHT. In addition, he will work with certain channel partners as well as enhancing the Company’s artificial intelligence offerings.
In conjunction with Mr. Carl’s appointment, the Company has granted him 500,000 options under the Company's omnibus long term incentive plan ("LTIP"). Concurrently, the Company also granted an employee 200,000 options under the LTIP. These options are exercisable at a price of $0.065 per common share and expire on January 18, 2029. The options vest in three equal tranches, with the first tranche vesting on the date of grant, the second tranche vesting on January 18, 2025, and the third tranche vesting on January 18, 2026, all subject to a four-month regulatory hold period. The Company has also granted an aggregate of 584,634 restricted share units ("RSUs") to a contractor pursuant to the LTIP. The RSUs vest in one year on January 18, 2025, and are also subject to a four-month hold period.
Following the grant of the options and RSUs, the Company has an aggregate of 22,500,835 options outstanding and 2,550,121 RSUs outstanding, representing, in aggregate, approximately 11% of the outstanding common shares of the Company. The grant of options and RSUs remains subject to TSX Venture Exchange approval.
About ARHT
ARHT is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers, and thought leaders can travel at the speed of light to any destination.
ARHT was founded in 2014 and is publicly traded on the TSX Venture Exchange. ARHT has offices in North America, Europe and Asia and operates from its own studios in locations from Toronto to Singapore, as well as a large network of partner studios in every region.
Connect with ARHT:
LinkedIn: https://www.linkedin.com/company/arht-tech
Instagram: https://www.instagram.com/arht.tech
Facebook: https://www.facebook.com/arht.tech
X, formally known as Twitter: https://twitter.com/arht_tech
Youtube: https://www.youtube.com/@arht-tech
For more information, please visit www.arht.tech/about/investors or www.arht.tech.
Alternatively, email us directly at info@arht.tech.
ARHT trades under the symbol "ART" on the TSX Venture Exchange.
Press Inquiries:
Kristen Spence
kspence@arht.tech
ARHT
Larry O'Reilly
Chief Executive Officer
+1 (416) 844 - 6747 (head office)
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the intention to exercise convertible securities of the Company; disclosure related to the Company's sales funnel; the Company's technology; the potential uses for the Company's technology; the future planned events using the Company's technology; the future success of the Company; the ability of the Company to monetize the ARHT Media technology; the development of the Company's technology; and interest from parties in ARHT's products. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic and competitive uncertainties; regulatory risks; risks inherent in technology operations; and other risks of the technology industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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