|By Marketwired .||
|April 21, 2014 07:00 AM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 04/21/14 -- Augyva Mining Resources Inc. (TSX VENTURE: AUV) ("Augyva" or the "Company") is pleased to announce that further to its press release dated April 11, 2014, it has entered into a formal employment agreement with Mr. Kuldeep Billan as full time Chief Executive Officer of the Company.
In connection with Mr. Billan's engagement and the recent appointment of two new directors to the board, the Company also announces that at a meeting of the directors held on April 18, 2014, a total of 2,000,000 options were awarded to Mr. Billan and an aggregate of 1,250,000 options were awarded to the non-executive directors pursuant to the Company's stock option plan. The options are exercisable for five years at a price of $0.115 per share and, in the case of Mr. Billan, will vest as to one-fifth on each anniversary of the date of grant, and, in the case of the non-executive directors, all options vest on the date of grant.
In order to formalize a pay-for-performance culture and further strengthen the alignment between Company insiders with shareholders of the Company, Augyva also announces that a restricted share unit plan (the "RSU Plan") for directors, executive officers, employees and consultants of the Company was approved by the board, subject to approval by the TSX Venture Exchange ("TSXV") and ratification by the Company's shareholders at the 2014 Annual General Meeting of shareholders (the "AGM"). Additionally the Company's board has approved the adoption of a cash-settled-only deferred share unit plan (the "DSU Plan").
Subject to approval of the RSU Plan by the TSXV and ratification by the shareholders at the AGM, 2,947,022 restricted share units ("RSUs") and 1,552,978 deferred share units ("DSUs") were awarded to the Company's CEO and an aggregate of 750,000 DSUs were awarded to the non-executive directors. Of the CEO's awards, approximately one-third are time-vested with the remaining two-thirds vesting subject to the achievement of specific price and operational performance conditions, including the achievement of a 30-day VWAP of $0.18 on Augyva's common shares and $5 million in annualized EBITDA based upon a specified formula. The DSUs awarded to the non-executive directors will vest subject to the achievement of these same performance conditions.
Further details regarding both the RSU Plan and the award made under such plan will be set out in the management information circular of the Company which will be mailed to shareholders and filed on SEDAR in connection with the AGM.
About Augyva Mining Resources Inc.
Augyva is an exploration and development company holding five properties located in the James Bay and Abitibi regions of the Province of Quebec. Its major project is its 35% interest in the Duncan Lake Iron Property located in the western part of the La Grande Greenstone Belt. The property is accessible by road and covers approximately 25,602 hectares. Augyva received the results of a National Instrument 43-101 compliant Preliminary Economic Assessment prepared by Met-Chem Canada Inc. in March 2013. The property is subject to an option and joint venture agreement between Augyva and Canadian Century Iron Ore Corporation which has 65% interest in the property.
In addition to the Duncan Lake Iron Property, Augyva holds a 100% interest in four other mineral properties, namely: Yasinski and Kali in the James Bay region and Senneville and Malartic in the Abitibi region. At these mineral properties, the exploration focus is for other than iron ore.
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.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information relating to the receipt of regulatory and shareholder approval of the RSU Plan and certain grants made thereunder. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. In particular, forward-looking information involves certain known and unknown risks, uncertainties and other factors including but not limited to: risks related to capital markets, general economic conditions, legislative and regulatory developments. In addition, a description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Augyva's disclosure documents on the SEDAR website at www.sedar.com. Augyva does not undertake to update any forward-looking information except in accordance with applicable securities laws.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 11, 2016 05:00 AM EST Reads: 1,172
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 11, 2016 04:45 AM EST Reads: 651
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 11, 2016 04:30 AM EST Reads: 875
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
Dec. 11, 2016 03:30 AM EST Reads: 1,147
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Dec. 11, 2016 03:00 AM EST Reads: 800
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, discussed recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model for s...
Dec. 11, 2016 02:45 AM EST Reads: 915
In IT, we sometimes coin terms for things before we know exactly what they are and how they’ll be used. The resulting terms may capture a common set of aspirations and goals – as “cloud” did broadly for on-demand, self-service, and flexible computing. But such a term can also lump together diverse and even competing practices, technologies, and priorities to the point where important distinctions are glossed over and lost.
Dec. 11, 2016 02:45 AM EST Reads: 1,804
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2017 New York. The 20th Cloud Expo and 7th @ThingsExpo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Internet to enable us all to im...
Dec. 11, 2016 02:30 AM EST Reads: 1,063
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 11, 2016 02:30 AM EST Reads: 1,300
"We are a custom software development, engineering firm. We specialize in cloud applications from helping customers that have on-premise applications migrating to the cloud, to helping customers design brand new apps in the cloud. And we specialize in mobile apps," explained Peter Di Stefano, Vice President of Marketing at Impiger Technologies, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 11, 2016 01:45 AM EST Reads: 756
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Dec. 11, 2016 01:45 AM EST Reads: 4,056
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 11, 2016 01:30 AM EST Reads: 1,755
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dec. 11, 2016 01:15 AM EST Reads: 1,348
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
Dec. 11, 2016 12:00 AM EST Reads: 1,133
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Dec. 11, 2016 12:00 AM EST Reads: 2,403