Dec. 12, 2019 /CNW/ - VIVO Cannabis Inc. today announced that it has granted, effective today, an aggregate of 3,364,500 stock options (each, an "Option") to certain directors, officers, employees and consultants of the Company in accordance with the Company's stock option plan. Each Option is exercisable into one common share in the capital of the Company (each, a "Share") at a price of $0.215 per Share, being the closing price of the Shares on the TSX Venture Exchange on December 11, 2019 , for a period of five years from the date of grant. This is a normal-course grant that comprises part of the long-term compensation and employee retention incentives provided by the Company. The Options will vest in equal quarterly instalments over 36 months. Including this grant of Options, the Company has granted less than 55% of the Options available for grant under its stock option plan. The Company has also issued a total of 45,000 Shares to two European employees pursuant to the terms of their employment agreements.
Following the issuance of the Options and Shares described above, the Company's basic and fully diluted Share balances now total 295,888,654 and 335,777,610, respectively.