Carson City, NV -- (ReleaseWire) -- 05/31/2016 --Avatar Ventures Corp. (OTCPINK:ATAR) Avatar Ventures Corp. (AVATAR) wishes to announce that the Board of Directors has approved a Stock Option and Incentives Plan. (PLAN)
On May 24th, 2016 The Board of Directors of AVATAR and majority shareholders agreed to the PLAN. The PLAN has allocated 15,000,000 shares of AVATAR for the purpose of offering incentives for management and other key personal. The PLAN will effectively expire on May 24, 2021.
The Board of Directors has initially approved options for Edward Minnema and Michael Morrison, Directors, the amount of 3,000,000 shares each (6,000,000 shares total). The terms are as follows:
- Each receives 1,500,000 options entitling the recipient an exercise at the price of $0.03, expiring in 12 months, effective date May 24, 2016.
- Each also receives 1,500,000 options entitling the recipient an exercise at the price of $0.10, expiring in 24 months, effective date May 24, 2016.
About AVATAR
AVATAR is a company which has an agreement in place with AutoArt Color Solutions of Oakville, Ontario, Canada, and has been developing and testing unique t-shirt and other garment products for sale in the multi-billion dollar garment industry. AVATAR has the right to use, promote, distribute and sell products developed by AutoART in the Caribbean and sell Avatar's own products worldwide. Avatar is also looking into other areas to generate sales such with art, sports, music and other merchandising opportunities.
CONTACT INFO:
Ed Minnema Phone: 647-706-1923
Email: avatarventuresatar@gmail.com for corporate inquiries
Tees2bseen@gmail.com for product inquiries
Website www.avatarvcorp.com
You can also follow us on Instagram @tees2bseen and on Twitter @avatar_ven_atar
Safe Harbour Statement:
This release contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward looking statements are made pursuant to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995."Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan," or planned, "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward looking statements, including the risks that actual results may differ materially from those projected in the forward looking statements.
Source: Uptick Newswire