VANCOUVER, May 14, 2018
VANCOUVER, May 14, 2018 /CNW/ - JEMTEC Inc. (TSX-V: JTC) (the "Company") announces that the TSX Venture Exchange has accepted for filing Stock Option Plan 2018 (the "2018 Plan") dated May 14, 2018, subject to shareholder approval.
Pursuant to the 2018 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 2018 Plan. The maximum number of options which may be issued pursuant to the 2018 Plan is 150,293. Combined with options already granted or available for grant under the Company's existing stock option plan, the 2005 Plan, the total number of stock options granted or available for grant is 497,131 which is equal to 20% of the Company's current issued and outstanding common shares, the maximum permitted under TSXV rules.
The Company also announces that it has granted an aggregate of 125,000 options under the 2018 Plan to certain directors of the Company at an exercise price of $0.75 per share. The options are subject to vesting provisions over a two-year period. Pursuant to the 2018 Plan, these options may not be exercised until shareholder approval has been received for both the 2018 Plan and the specific option grants to each individual director.
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.
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Eric Caton, President, Phone (877) 929-4559, Fax (877) 929-4198, www.jemtec.caCopyright CNW Group 2018