Payfare Announces Grant Of Options And Restricted Share Units

TORONTO, Sept. 7, 2021 /CNW/ -- Payfare Inc. ("Payfare" or the "Company") (TSX:PAY) announces that it today granted an aggregate of 35,000 restricted share units ("RSUs") and 345,000 stock options ("Options") to certain officers and employees of the Company in accordance with the Company's incentive compensation plan.

All RSUs issued to officers and employees of the Company will fully vest on November 15, 2022.

The Options will be exercisable at an exercise price of $12.38 per Class A common share of the Company until November 15, 2025, subject to 20% of the Options vesting on each of November 15, 2021, May 15, 2022, August 15, 2022,  November 15, 2022 and March 15, 2023.

About Payfare
Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig workforce. Payfare partners with leading platforms and marketplaces, such as Uber, Lyft and DoorDash, to provide financial health for their workforce.

For further information please visit www.payfare.com or contact:

Lindsey Abshire 
[phone] 
[email protected] 

or

Su Chun
Chief Compliance & Legal Officer
1 [phone]
[email protected]  

No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Payfare's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Payfare's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks include the factors discussed under "Risk Factors" in Payfare's final prospectus dated March 15, 2021. Payfare does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

SOURCE Payfare