TORONTO, ONTARIO--(Marketwired - Dec. 21, 2015) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT), a vertically integrated health and wellness company focused on research, development, production and distribution of cannabis products, today announced that effective December 21, 2015, a total of 125,000 stock options to purchase common shares of the Company have been granted to the five independent members of the Board of Directors, as to 25,000 each. The stock options have an exercise price of $1.69 per share, equal to the closing price of Mettrum's common shares on December 18, 2015. The stock options will all vest on the last business day immediately prior to the initially scheduled date of the next annual (or annual and special) meeting of shareholders of the Company, will have a five-year term and are granted and shall be governed in accordance with the terms of the Company's stock option plan.
The Company also announced today that as part of a reorganization of the subsidiary operations of the Company, effective December 15, 2015, Peter Miller resigned as President and sole director of Agripharm Corp. Mr. Miller will continue to work with the Company as an advisor. Trevor Fencott, Director and Chief Legal Officer of the Company, will serve as the sole director of Agripharm Corp. Corporate officers for the subsidiary will not be appointed.
About Mettrum Health Corp.
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the Marihuana for Medical Purposes Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada) (the "MMPR"), which came into effect on October 1, 2013. Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for Mettrum Ltd. at its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the MMPR system.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company and Mettrum disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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