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Serenic Renews Investor Relations Services Agreement With and Grants Stock Options to Cantech Communications(November 30, 2011)
EDMONTON, ALBERTA -- (Marketwire) -- 12/01/11 -- Serenic Corporation (the "Corporation" or "Serenic") (TSX VENTURE:SER), an international software developer specializing in integrated financial management and HCM solutions for not-for-profit organizations, government agencies, and Microsoft Dynamics NAV users announced today the continued engagement of Cantech Communications ("Cantech") to provide investor relation and corporate communication services for the Corporation. Serenic has also granted stock options to Cantech.
Based in Vancouver, Cantech specializes in assisting private and public Canadian companies with an array of services, such as corporate communications, professional management services, tax credit applications, and grant proposal assistance. During the 12-month term of the agreement, Cantech will be compensated with a monthly retainer fee of $3,600 (three thousand six hundred dollars) and 50,000 (fifty thousand) options to purchase Serenic shares. As authorized by the Board of Directors of the Corporation, the options have an exercise price of $0.35, shall vest as to one-fourth on each of February 23, 2012, May 23, 2012, August 23, 2012 and November 23, 2012. Options shall expire on November 23, 2013 if not exercised by Cantech, and shares acquired on exercise shall be subject to a 4 month hold period. Pursuant to the terms of the agreement, either party may terminate the agreement or alternatively change the scope of services to be provided by Cantech upon 30 days advance notice, while also adjusting compensation terms to reflect the revised scope of services. In the event the agreement is terminated prior to November 23, 2013, unexercised options which have vested shall expire 30 days after the agreement has been terminated. The stock options issued are in accordance with policies of the Corporation's stock option plan and the TSX Venture Exchange.
Serenic Corporation publishes mission-critical software products for not-for-profits (NFP), educational institutions and governments. The Company's products are based on leading application and technology platforms from Microsoft, including Dynamics NAV, SQL Server, and .NET, and are distributed in North America and internationally through value-added resellers and a direct sales organization. Serenic Corporation is the exclusive developer of human resource management and payroll products for Microsoft Dynamics NAV ERP users in North America. Serenic has offices in Edmonton, Alberta and Denver, Colorado and staff located throughout the USA and Europe.
ON BEHALF OF THE BOARD OF DIRECTORS
Dwayne Kushniruk, Chairman
Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts, are forward looking statements. Such forward looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Serenic Corporation to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, software industry risks, general business risks, foreign currency risks, economic dependence risks, and credit risks.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Investor Relations: Cantech Communications
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