VANCOUVER, BC, Dec. 3, 2020 /CNW/ - JEMTEC Inc. (TSXV: JTC) (the
"Company") announces that a Company Director, Gordon Baker, had exercised an option to
purchase 57,805 shares of JEMTEC stock.
Pursuant to the Company's 2005 Plan (the Plan), the Board of
Directors may, from time to time, grant options to directors,
officers, employees and consultants of the Company. Each option
entitles the holder to acquire one common share of the Company at
such price and on such terms as determined by the Board in
accordance with the Plan. The Options exercised by the Director
were granted on December
3rd 2015 under the Plan at an exercise price of
$0.345 and were fully vested on June
03, 2017.
The Company also mentions for clarity these
exercises are separate from the 125,000
options granted under the 2018 Plan to certain directors of
the Company at an exercise price of $0.75
per share. Those options are subject to vesting provisions
over a two-year period.
FORWARD-LOOKING STATEMENTS
This news release contains
forward-looking statements,
which relate to
future events or future
performance and reflect management's current expectations and
assumptions. Such forward- looking statements reflect management's
current beliefs and are based on assumptions made by and
information currently available to the Company. Investors are
cautioned that these forward looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. These forward-looking statements are made as of the date
hereof and, except as required under applicable
securities legislation, the Company does
not assume any obligation to update or revise them to reflect new
events or circumstances.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Jemtec Inc.
