news IZOTROPIC GRANTS RESTRICTED AND PERFORMACE SHARE UNITS
VANCOUVER, BC – January 11, 2021 – Izotropic Corporation (“Izotropic” or the “Company”) (CSE: IZO) (OTC US: IZOZF) (FSE: 1R3) announces it has issued 1,550,000 Restricted Stock Units (“RSU” or “RSUs”) to advisors, consultants and a director, and 500,000 Performance Stock Units (“PSU” or “PSUs”) to the Company’s Commercial Operations Executive.
Further to the Company’s news release dated July 10, 2020, the Company adopted a Long Term Equity Incentive Plan (“LTIP”), wherein the Company may grant up to 10% of the total amount of issued common shares to key individuals as a way of providing long term and performance (milestone) based incentives. The LTIP will be utilized as the Company’s primary tool to reward value-based performance from scientists, advisors and consultants who contribute to making breast CT an indispensable tool for improving the outcomes of breast cancer.
The RSUs vest on the following schedule:
662,500 RSUs on January 11, 2021;
262,500 RSUs on July 11, 2021;
262,500 RSUs on January 11, 2022;
262,500 RSUs on July 11, 2022;
100,000 RSUs in increments of 50,000 upon completion of milestones related to the development of the Company’s commercial breast CT imaging system
The PSUs vest on the following schedule:
225,000 PSUs upon FDA submission;
225,000 upon first sale of the Company’s breast CT imaging system
ON BEHALF OF THE BOARD
Robert Thast
Chief Executive Officer
Contact Information
For investor relations inquiries contact:
Dan Sammartino
Phone: 1-778-962-0234
Email: IR@izocorp.com
For general inquiries contact:
Izotropic Corporation
Phone: 1-833-IZOCORP
Email: info@izocorp.com