Simply Better Brands Announces Grant of Stock Options and Restricted Stock Units
July 27 2021 - 4:00PM
Simply Better Brands Corp. (TSX Venture Exchange
("
TSXV"): SBBC) (the "
Company" or
"
SBBC") announced today that, subject to
regulatory approval, it has granted a total of 1,363,030 options to
purchase common shares of SBBC to directors, officers, employees
and consultants of SBBC, with an exercise price of $5.70 and an
expiry date of July 26, 2026. In addition, the Company issued
890,000 restricted stock units ("
RSUs") of SBBC to
directors, officers, employees and consultants of SBBC. The options
and RSUs are subject to the provisions of the Company's equity
incentive plan, as approved by SBBC's shareholders at its most
recent annual general meeting.
The Company relied on section 5.5(b) of
Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101") as
the exemption from the formal valuation requirements of MI 61-101
and TSXV Policy 5.9 in respect of the grant of options and RSUs to
the directors and officers of the Company as the common shares of
the Company are not listed on a specified market (as the common
shares are only listed on the TSXV). The Company relied on section
5.7(1)(a) of MI 61-101 as the exemption from the minority approval
requirements of MI 61-101 and TSXV Policy 5.9 in respect of the
grant of options and RSUs to the directors and officers of the
Company as neither the fair market value of the subject matter of,
nor the fair market value of the consideration for, the grant of
the options and RSUs to the directors and officers of the Company
exceeded 25% of the Company’s market capitalization.
About Simply Better Brands
Corp.
Simply Better Brands Corp. leads an
international omni-channel platform with diversified assets in the
emerging plant-based and holistic wellness consumer product
categories. The Company’s mission is focused on leading innovation
for the informed Millennial and Generation Z generations in the
rapidly growing plant-based, natural, and clean ingredient space.
The Company continues to focus on expansion into high-growth
consumer product categories including CBD products, plant-based
food and beverage, and the global pet care and skin care
industries. For more information on Simply Better Brands Corp.,
please visit:
https://www.simplybetterbrands.com/investor-relations.
Contact Information
Brian Meadows, CFO+1 (855)
553-7441ir@simplybetterbrands.com
Neither 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.
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