RE:RE:RE:They know when to pick a dateI was going through the details and they cannot issue any options below the exercise price of the previous day, which is $1.50 in this case. So the BoD issued the options at the legal minimum. They don't state the vesting period here, but in Note 18 in the FS, they state that the vesting period is typically up to 4 years.
They are allowed up to 3.5 million options and they were at 1 million before (all out of the money pre-bankruptcy - so at like $4-15/share). So this will bring them right up to the maximum.
I'm a bit disappointed to see the exercise price and the massive amount of options issued here which goes all the way to the max and the fact that the details weren't even disclosed. However, hopefully this aligns management to shareholders interest.
They just need to make money and do an NCIB and we all laugh to the bank.