3 hours ago
Calgary, Alberta--(Newsfile Corp. - March 17, 2026) - Prospect Prediction Markets Inc. (TSXV: MKT) (OTCID: MKTSF) (FSE: DEP) ("Prospect Markets" or the "Company") is pleased to announce that certain shareholders, including directors, officers, employees, and shareholders who received shares in connection with the Company's November 2025 acquisition and related private placement transactions, have entered into voluntary lock-up agreements with the Company (the "Lock-Up Agreements").
"We appreciate the support of our key shareholders and management, in the alignment of our goals and the execution of our strategy in the emerging prediction markets industry," said Johnny Chen, Chief Executive Officer of Prospect Markets. "This agreement covers 94% of the shares issued in the November acquisition and financing or approximately 69% of our current shares outstanding."
The Lock-Up Agreements apply to an aggregate of 39,558,672 common shares (the "Subject Securities"), representing 86.0% of the common shares issued in connection with the Company's November 2025 acquisition and related private placement tranches or 63.4% of the Company's issued and outstanding common shares as of the date of this news release.
In addition, 3,500,000 common shares are expected to become subject to the same Lock-Up Agreements on or before March 24, 2026. Assuming this additional tranche, the total number of Subject Securities subject to the voluntary lock-up will increase to 43,058,672 common shares, representing 93.6% of the Subject Securities and 69.0% of the Company's issued and outstanding common shares as of the date of this news release.
The Subject Securities were originally issued in connection with:
(i) the Company's acquisition completed on November 18, 2025 and/or
(ii) the Company's non-brokered private placement completed on November 18, 2025 and November 21, 2025.
The statutory hold periods applicable to such securities are scheduled to expire on March 19, 2026 and March 23, 2026, respectively.
Pursuant to the Lock-Up Agreements, participating shareholders have voluntarily agreed not to offer, sell, transfer, assign, pledge, or otherwise dispose of the Subject Securities, directly or indirectly, except as permitted under the agreements. The Subject Securities will be released in equal monthly installments through March 2027.
The Lock-Up Agreements are voluntary and are not required by the TSX Venture Exchange. The agreements also provide that the Board of Directors may, in its discretion, reduce, remove, or waive the application of the resale restrictions. The Subject Securities will remain subject to applicable securities laws and any other contractual restrictions.
