Pivotree to Release Third Quarter 2022 Financial Results

TORONTO, Nov. 3, 2022 /CNW/ - Pivotree Inc. (TSXV: PVT) ("Pivotree" or the "Company"), a leading provider of frictionless commerce solutions, will release third quarter 2022 financial results on Wednesday, November 23, 2022 before the market opens. The webinar will be hosted by Bill Di Nardo, CEO, and Mo Ashoor, CFO followed by a question and answer period.

A live Zoom Video Webinar of the event can be accessed at 8:30 am ET through the following registration link: https://pivotree.zoom.us/webinar/register/WN_4_KAlq_4SdK_s8ZDDctEhw

Listeners that prefer to dial in by phone may do so by accessing the same web link and the dial in details will be provided by email upon registration. A replay will be available approximately two hours after the conclusion of the live event.

Incentive Plan Amendment

During its Annual General Meeting, held on June 28, 2022, the Corporation's shareholders approved the following revisions to the Company's Omnibus Equity Incentive Plan ("Incentive Plan"), which amendments have also been approved by the Company's directors and the TSX Venture Exchange:

1. Allowing participants (with the exception of investor relations service providers) to elect to undertake a "cashless exercise" of the stock options granted to them, pursuant to which the common shares otherwise deliverable upon the exercise of an option may be sold for an amount equal to the exercise price of the option;
2. Allowing participants (with the exception of investor relations service providers) to elect to undertake a "net exercise" procedure of their then-vested and exercisable options, whereby the participant will be entitled to receive such number of common shares (rounded down to the nearest whole number) obtained pursuant to formula set out in the Incentive Plan; and
3. Ancillary amendments and definitional changes required to accommodate the amendments set out above.

Under the terms of the Incentive Plan, the maximum number of common shares issuable on exercise or settlement of awards granted under the Incentive Plan are as follows:

• The number of common shares reserved for issuance pursuant to options granted under the Incentive Plan may not, in the aggregate, exceed 10% of the outstanding common shares from time to time; and
• The number of common shares issuable pursuant to the settlement of SARs, RSUs, DSUs and PSUs issued under the Incentive Plan may not exceed 2,362,527 shares in the aggregate.

About Pivotree

Pivotree, a leader in frictionless commerce, designs, builds and manages digital platforms in Commerce, Data Management, and Supply Chain for over 250 major retail and branded manufacturers globally. Pivotree's portfolio of digital solutions, managed and professional services help provide retailers with true end-to-end solutions to manage complex digital commerce platforms, along with ongoing support from strategic planning through platform selection, deployment, and hosting, to data and supply chain management. Headquartered in Toronto, Canada with offices and customers in the Americas, EMEA, and APAC. Pivotree is widely recognized as a high-growth company and industry leader. For more information, visit www.pivotree.com.

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.

SOURCE Pivotree Inc.

Dennis Fong, Investor Relations, [email protected], [phone]; Mo Ashoor, Chief Financial Officer, [email protected], [phone]