VANCOUVER, BC, March 7, 2022 /CNW/ - JEMTEC Inc. (TSXV: JTC)
(the "Company") wishes to announce that the Board of Directors has
adopted a 10% fixed stock option plan (the "2022 Plan"). The 2022
Plan is subject to approval by the TSX Venture Exchange (the
"Exchange").
Pursuant to the 2022 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 2022 Plan.
Subject to confirmation from the Exchange, the maximum number of
options which may be issued pursuant to the 2022 Plan is
298,278.
The Company also announces that it has granted an aggregate of
139,000 options (consisting of 88,102 options under the 2018 Plan
and 50,898 conditional grants under the 2022 Plan) to the directors
of the Company at an exercise price of $2.09 per share. All options are subject to
vesting over 2 years and expire 4 years after the date of grant.
Options granted under the 2022 Plan may not be exercised until
Exchange approval has been received.
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.