MONTREAL, Jan. 29,
2025 /CNW/ - The Good Shroom Co Inc.
(TSXV: MUSH) ("TGSC" or "the Company"), an
emerging cannabis company with a focus on innovation, announces
that the Company has adopted a new "fixed up to 20%" stock option
plan (the "New Fixed Option Plan"). The New Fixed Option
Plan received conditional TSX Venture Exchange ("TSXV")
approval and shareholders of the Company approved the New Fixed
Option Plan at the Company's Annual General Special Meeting of the
Shareholders' held on January 29,
2025 (the "Meeting").
The Company is also pleased to announce that shareholders
approved the change of its name to "Mercanto Holdings Inc." (the
"Name Change") at the recent Meeting. The Company's trading
symbols on the TSXV will remain unchanged. As part of the Name
Change, the common shares of the Company have been assigned new
CUSIP 58757P107 and ISIN CA58757P1071 numbers.
The Company would like to thank its shareholders for their
continued support, as all matters that were put before them at the
Meeting were approved. TGSC is pleased to announce the re-election
of Eric Ronsse, Franck Aton,
Steve Saviuk and Michel Dahan, to its board of directors (the
"Board").
Also, at the Meeting, shareholders appointed Raymond Chabot
Grant Thornton LLP as TGSC's auditor for the ensuing year.
For more information on these and other matters voted on at the
Meeting, see TGSC's information circular dated December 31,2024 that is available on TGSC's
SEDAR profile at www.sedarplus.ca.
Market Expansion Update
TGSC is pleased to provide an update on its national expansion
strategy. The innovative product, DYP's THC-infused pouches, have
been well received in Alberta.
Multiple purchase orders have been successfully fulfilled, and
sales are ramping up steadily. Results from Alberta will begin to reflect in the Company's
Q3 performance and subsequent quarters.
In addition, TGSC is launching a new THC-infused pouch brand,
Deckies, in Ontario this
week. The Company anticipates adequate traction in this market,
with the sales results also expected to contribute positively to Q3
and beyond. As the national expansion progresses, the Company will
continue submitting its THC-infused pouches across the country in
response to product calls. With the Ontario and Alberta launches, the foundation for broader
market growth is firmly underway.
Quebec Market Update
TGSC anticipates receiving the results of its submissions in
Quebec on Friday, January 31, 2025. The outcomes of these
submissions will significantly influence the Company's expansion in
this market, with the results expected to reflect in late Q4 and
into fiscal 2026, beginning August 1,
2025.
New Fixed Option Plan
The New Fixed Option Plan, which replaced the Company's "rolling
up to 10%" stock option plan, was adopted to comply with Exchange
Policy 4.4— Security Based Compensation ("Policy
4.4") which was amended on November 24,
2021.
The purpose of the New Fixed Option Plan is to give to
directors, officers, employees, management company employees,
consultants and Eligible Charitable Organizations (as such term is
defined in Policy 4.4) of the Company and its subsidiaries
(collectively "Eligible Persons"), as additional
compensation, the opportunity to participate in the success of the
Company by granting to such Eligible Persons stock options
("Options"), exercisable over a period of up to ten (10)
years as determined by the Board, to buy shares of the Company at a
price not less than the market price prevailing on the date the
Option is granted less applicable discount, if any, permitted by
the policies of the TSXV and approved by the Board. Up to
10,154,937 Options are issuable under the New Fixed Option
Plan.
Additional details regarding the Fixed Option Plan are contained
in the Company's information circular dated December 31, 2024, which has been filed on
www.sedarplus.ca under the Company's profile.
About The Good Shroom Co Inc.
The Good Shroom Co Inc. (TSXV: MUSH) is an emerging
cannabis company that sells a variety of traditional cannabis
products and innovations, with its primary market
in Quebec but expanding nationally. For more
information, visit www.mercantoholdings.com.
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 news release.
SOURCE Good Shroom Co Inc. (The)
