Options Price Cap off..Ready to rumble
Pediapharm grants options, issues shares for bonuses
2016-07-25 15:55 ET - News Release
Mr. Sylvain Chretien reports
PEDIAPHARM ANNOUNCES GRANT OF STOCK OPTIONS AND ISSUANCE OF SHARES FOR SERVICES
Pediapharm Inc.'s board of directors has approved the grant of 2,375,000 stock options to certain directors, officers and employees of the corporation. The options were issued with an exercise price of 30 cents per share and have a term of 10 years. In addition, the options have varied vesting provisions such that they vest either over two years or four years. The board has also approved the grant of 100,000 stock options to Direct Financial Strategies and Communications Inc. at an exercise price of 30 cents per share with a term of two years. These options will vest over a 12-month period at a rate of 25 per cent per quarter.
The option grants are subject to regulatory and TSX Venture Exchange approval.
The board has also approved the payment of bonuses to certain officers of the corporation for their contribution during the 12 months ended March 31, 2016. A portion of the bonuses are payable in cash, and the balance shall be payable through the issuance of an aggregate of 196,665 common shares of the corporation at a deemed price of 30 cents per share.
The common shares will be subject to a four-month hold period under applicable Canadian securities laws ending four months and a day after the date of issue.
The issuance of common shares for services is subject to the acceptance of the TSX Venture Exchange.
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