BSM Technologies grants options to Directors and Officers

Toronto, ON – BSM Technologies Inc. (“BSM” or the “Company”) (TSX-V: GPS), a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, today announced that on January 15, 2013 the Company granted a total of 1,280,500 stock options to directors and officers of the Company. Each stock option allows the holder to acquire a common share of the Company at an exercise price of $1.45 for a period of five years, subject to vesting requirements. The Company’s common shares closed at $1.45 on the TSX Venture Exchange on January 15, 2013.

 

Out of the total number of stock options granted, 680,500 were reserved for the Board of Directors and the executive team. Of those stock options, 510,375 vested on January 15, 2013, and the remainder will vest evenly six, 12 and 18 months following January 15, 2013. The remaining 600,000 stock options were granted to employees of the Company, of which 150,000 vested on January 15, 2013, with the remainder vesting evenly six, 12 and 18 months following January 15, 2013.

 

Under the Company’s Stock Option Plan, the Company has a total of 2,250,000 common shares reserved for the issuance of stock options, representing approximately 7.9% of the Company’s 28,587,212 common shares outstanding. Including the January 15, 2013 option grant, the Company will have 2,195,436 options issued and outstanding, representing approximately 7.7% of the Company’s common shares outstanding.

 

About BSM Technologies (bsmwireless.com)

BSM Technologies, through its subsidiary BSM Wireless Inc., is a leading provider of remote monitoring, fleet tracking, fleet maintenance, and business intelligent engine providing real time, web‐based tracking of mobile and fixed assets. BSM provides solutions for commercial, government, and law enforcement organizations who manage and operate diverse assets and large fleets, and who seek to enhance customer service, improve the safety of their drivers and vehicles, and lower business costs.

 

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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

 

For more information, please visit http://www.bsmwireless.com

 

For more information please contact:

Aly Rahemtulla

President & CEO

BSM Technologies Inc.

(416) 675-1201

arahemtulla@bsmwireless.com

 

Babak Pedram

TMX Equicom
(416) 815-0700 ext. 264
bpedram@tmxequicom.com