iLOOKABOUT Announces Grant of Stock Options

iLOOKABOUT, a software, data analytics and visual intelligence company focused on real property announced the grant of 1,000,000 stock options to Gary Yeoman, chair and chief executive officer of the company.

The company said that the stock options are in accordance with Yeoman’s executive employment agreement. This announcement follows the issuance of 1,481,000 common shares in January where the exercise price of the warrants was at $0.15 per share resulting in gross proceeds to the company of $222,150.  The warrants issued to Yeoman are in connection with a private placement completed in January 2013 when Yeoman joined the company. The proceeds will be used to help fund the company’s working capital requirements.

As quoted in the press release:

These options have an exercise price of $0.20 per common share and will vest as to 25% on the date of grant and 25% on each of the first three anniversaries of the grant date in accordance with the Company’s standard stock option grants.  The options will expire five years from the date of grant if not exercised.

The Company primarily serves the property assessment, property taxation, municipal, insurance, and appraisal sectors, both public and private, in North America. iLOOKABOUT provides powerful data analytics to the real estate industry through its Real Property Tax Analytics software offering. The Company’s proprietary StreetScape™ imagery and real property focused web-based application, GeoViewPort™, unifies property related data and enables desktop review of properties. iLOOKABOUT has integrated analytics and workflow management applications into GeoViewPort™ which create highly valued service offerings for its clients. To augment its technology based offerings, the Company provides real estate consulting services, with a focus on the Property Tax and Valuation sectors.

Click here for the full text release.