/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
LONDON,
ON, Feb. 2, 2022 /CNW/ - Indiva Limited (the
"Company" or "Indiva") (TSXV: NDVA) (OTCQX:
NDVAF), the leading Canadian producer of cannabis edibles and
other cannabis products, is pleased to announce that its Board
of Directors has approved the grant of an aggregate of 2,049,997
restricted share units ("RSUs") to certain directors and
officers of the Company pursuant to its amended and restated
omnibus incentive plan approved by shareholders on June 24, 2021 (the "Plan"). All of the
RSUs will vest immediately. Each vested RSU entitles the holder to
receive a cash payment equal to the closing price of the common
shares of the Company on the last trading date prior to the vesting
date, or at the discretion of the Board of Directors, one common
share of the Company or any combination of cash and common
shares.
The aggregate number of common shares of the Company that may be
reserved for issuance pursuant to RSUs granted under the Plan is
2,500,000. After this issuance of the RSUs to the directors and
officers and certain other issuances to employees of the Company,
there are 239,503 RSUs available for future grants under the
Plan.
ABOUT INDIVA
Indiva sets the standard for quality and innovation in cannabis.
As a Canadian licensed producer, Indiva produces and distributes
award-winning cannabis products nationally, including Bhang®
Chocolate, Wana™ Sour Gummies, Slow Ride Bakery Cookies, Jewels
Chewable Tablets, Ruby® Cannabis Sugar, Sapphire™ Cannabis Salt,
Grön edibles, as well as capsules, pre-rolls and premium flower
under the INDIVA and Artisan Batch brands. Click here to connect
with Indiva on LinkedIn, Instagram, Twitter and Facebook, and here
to find more information on the Company and its products.
DISCLAIMER & READER ADVISORY
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has in any way passed upon the merits of the
Transaction and neither of the foregoing entities accepts
responsibility for the adequacy or accuracy of this release or has
in any way approved or disapproved of the contents of this press
release.
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the parties' current belief or
assumptions as to the outcome and timing of such future events.
Actual future results may differ materially. In particular, this
release contains forward-looking information relating to the
Company's future operations, future results, future product
offerings and compliance with applicable regulations. Various
assumptions or factors are typically applied in drawing conclusions
or making the forecasts or projections set out in forward-looking
information. Those assumptions and factors are based on information
currently available to the parties. The material factors and
assumptions include the parties being able to maintain the
necessary regulatory and other third parties' approvals and
licensing and other risks associated with regulated entities in the
cannabis industry. The forward-looking information contained in
this release is made as of the date hereof and the parties are not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available. Not for distribution to U.S. Newswire
Services or for dissemination in the
United States. Any failure to comply with this restriction
may constitute a violation of U.S. Securities laws.
SOURCE Indiva Limited
