To Friends in the 100 acre wood We often hear about the options being granted to the hard-working, dedicated risk-taking well educated employees of the company.
The consistent drone from the hundred acre wood is that the employees are diluting the company at other shareholders expense… Of course this is a complete fallacy.
Here's a quote from the notes to the Q3 financials:
The Company provides a stock option plan for its directors, officers and employees. Under the plan, the Company may grant options for up to 3,623,802 (December 31, 2021 – 3,500,095) common shares. The exercise price of each option granted will not be lower than the market price of the common shares on the date of grant and the option’s maximum term is five years.
how can you call this dilution when the grant to the employees are paying market price? The options are merely golden handcuffs to retain talented, dedicated individuals who are approving up value for the rest of us. Shareholders were doing nothing but providing our money… Those dedicated employees are providing blood, sweat and tears. They don't punch a clock from 8am to 4:30 pm. They are dedicated individuals providing industry, knowledge and expertise, that they went to school for many years to gain, and have employed for many years inside the oil industry.
We shareholders are riding on the coattails of their efforts. Personally, I appreciate the opportunity to be able to participate in a public venture, such as Bonterra.