TORONTO--(BUSINESS WIRE)--Telehop Communications Inc. (“Telehop” or the “Company”), (TSX-V: HOP) today announced the expansion into Business Services with the acquisition of G3 Telecom’s Business unit and also option grants for Directors and certain officers of the company.
Telehop announced that it has signed a definitive agreement to acquire the business services unit of G3 Telecom. The acquisition allows Telehop to offer a full suite of business services including full featured business phone services, unlimited North America calling and faxing, remote worker support, and many more features. Business clients ranging from one business phone line to hundreds can now start saving with a high quality, low cost full service solution.
“Last year we invested heavily into a new switch and network infrastructure to expand into new markets and services," said CEO Rajiv Jagota. "Today we continue to realize those investments and the benefits by offering a very competitive line of business services. This acquisition is an important, exciting step in the execution of our ongoing growth strategy and generates value for our clients and shareholders.”
The Company also announces that effective April 4, 2013 the Board of Directors approved the grant of incentive stock options in the amount of 25,000 options for each of the re-elected directors from the annual general meeting held August 27, 2012 (Lawrence Cyna, Michael Boyd, James Estill, Mitchell Blum and Theo Luykenaar). Further the Board approved an additional 150,000 incentive options issued to the CEO Rajiv Jagota, 100,000 incentive options to the CFO Robert Cosman and 10,000 incentive options to Network and IT Director Michel Bays. Each stock option has certain vesting terms as outlined in the stock option plan, and each option allows the holder to acquire common shares for a period up to five years. Each stock option represents the right to purchase one (1) common share of the Company, to be exercisable at $0.10 per share which is higher than the closing price on April 3, 2013. The total number of options that are being granted is 385,000.
Telehop Communications Inc. (TSX-V: HOP) was founded and headquartered in Toronto, Ontario in 1993, and has grown into one of the largest alternative telecommunications providers to both residential and business customers.
Telehop originally began offering residential and business two-way monthly 'flat rate' calling services in the Greater Toronto area between communities where a call would otherwise be a long distance call. In 1994, Telehop became one of Canada's few Equal Access Long Distance Providers, allowing it to offer its customers full service long distance calling globally at significantly lower rates. The Canadian Radio-television and Telecommunications Commission ("CRTC") has licensed Telehop as a Class "A" telecommunications carrier.
Telehop's dedication and priority is providing residential and businesses with exceptional phone services at competitive rates without sacrificing quality service.