VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) -- Rubicon Organics Inc. (TSXV: ROMJ) (OTCQX: ROMJF) (“Rubicon” or the “Company”) announces that in accordance with the Company’s equity incentive plan (the “Plan”), it has amended the terms of 778,500 incentive stock options (the “Amended Options”) and granted 40,000 incentive stock options to employees of Rubicon.
Employee Equity Awards
Incentive Stock Option Amendment
The Company has amended the exercise price, vesting terms, and expiry dates of 778,500 Amended Options (the “Amendment”) in accordance with the Plan. The Amendment has been approved by Rubicon’s Board of Directors and conditional approval has been received by the TSX Venture Exchange. The Amended Options were originally awarded between July 31, 2017 and November 16, 2021, at exercise prices of US$2.00 to CAD$4.10 per unit and were adjusted on May 25, 2022, to an exercise price of $0.85 per unit. Of the Amended Options, 688,500 units, issued prior to November 16, 2021, were also amended to vest 1/3 on December 31, 2022, 1/3 on June 30, 2022, 1/3 on December 31, 2023, and expire on December 31, 2025. The vesting and expiry of all other Amended Options remain unchanged.
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I am very disappointed with the board particularly Lassonde, the gold digger !