ARHT Media Announces Appointment of Richard Carl as Executive Chair of the Board and Grants Options and RSUs

TORONTO, Jan. 19, 2024 (GLOBE NEWSWIRE) -- ARHT Media Inc. ("ARHT" or "the Company") (TSXV: ART), (OTCQB: ARHTF) the global leader in the development, production and distribution of high-quality, low latency hologram and digital content, is pleased to announce the appointment of Richard Carl as Executive Chair ("Chair") of the Company, effective immediately. Mr. Carl has served as a member of the board of directors of the Company (the "Board") since 2020.

“Richard’s significant tenure on the Board, as well as his experience in private and public companies, including a wide range of operational, financial and M&A skills will serve the Company well,” commented Con Steers, ARHT’s current Chair.

Mr. Steers served as Chair for six years and will continue in his capacity as a director of ARHT. In addition, he will work with certain channel partners as well as enhancing the Company’s artificial intelligence offerings.

In conjunction with Mr. Carl’s appointment, the Company has granted him 500,000 options under the Company's omnibus long term incentive plan ("LTIP"). Concurrently, the Company also granted an employee 200,000 options under the LTIP. These options are exercisable at a price of $0.065 per common share and expire on January 18, 2029. The options vest in three equal tranches, with the first tranche vesting on the date of grant, the second tranche vesting on January 18, 2025, and the third tranche vesting on January 18, 2026, all subject to a four-month regulatory hold period. The Company has also granted an aggregate of 584,634 restricted share units ("RSUs") to a contractor pursuant to the LTIP. The RSUs vest in one year on January 18, 2025, and are also subject to a four-month hold period.

Following the grant of the options and RSUs, the Company has an aggregate of 22,500,835 options outstanding and 2,550,121 RSUs outstanding, representing, in aggregate, approximately 11% of the outstanding common shares of the Company. The grant of options and RSUs remains subject to TSX Venture Exchange approval.

About ARHT

ARHT is a pioneer and the global leader in live hologram technology. Thanks to its patented end-to-end technology, executives, medical experts, educators, entertainers, and thought leaders can travel at the speed of light to any destination.

ARHT was founded in 2014 and is publicly traded on the TSX Venture Exchange. ARHT has offices in North America, Europe and Asia and operates from its own studios in locations from Toronto to Singapore, as well as a large network of partner studios in every region.