VANCOUVER, BC, March 18, 2022 /PRNewswire/ - NEXE Innovations Inc. ("NEXE" or the "Company"), (TSXV: NEXE) (OTC: NEXNF) (Frankfurt: NX5), a leader in plant-based materials manufacturing, is pleased to announce a grant (the "Grant") to certain directors, officers, employees and consultants of the Company of 3,070,000 options (the "Options") to purchase up to an aggregate of 3,070,000 common shares of the Company (the "Option Shares") for a period of five years from March 17, 2022 (the "Grant Date") at an exercise price of $0.495 per Option Share, being the closing price of the common shares of the Company on the TSX Venture Exchange (the "Exchange") on March 16, 2022. The Options will vest in three equal installments with 1/3 vesting six months from the Grant Date, 1/3 vesting 12 months from the Grant Date and the remaining 1/3 vesting 18 months from the Grant Date, all on the terms of the stock option plan of the Company dated March 12, 2021 (the "Plan") and in accordance with the policies of the Exchange.
The Grant is the first grant of options since the completion of the Company's going public transaction in December 2020, and was implemented at the recommendation of the Compensation Committee of the Company, following its retention of an independent third party compensation advisor.
Following the Grant, a total of 5,057,538 options remain available for grant under the Plan.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable technology and advanced materials manufacturing based in British Columbia, Canada. The company has developed one of the only patented, fully compostable, plant-based, single-serve coffee pods for use in leading single-serve coffee machines. The proprietary NEXE pod is designed to reduce the significant environmental impact caused by single-serve pods, >50 billion of which are discarded every year. With over $60M raised to date from equity and government funding and over five years of R&D, NEXE is well-positioned to meet the growing demand for environmentally friendly and sustainable products in the single-serve coffee sector and beyond. Learn more:https://nexeinnovations.com/
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Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking statements or information, which include, but are not limited to, statements in respect of the terms of the Options and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, the ability of the Company to abide by the terms of the Options. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include, receipt of necessary approvals and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.
The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.
