THC.CSE | THCBF – OTC | TFHD.F
Vancouver, B.C. – (February 12, 2021) THC BioMed Intl Ltd. (“THC” or the “Company”) (CSE:THC) announces that it has granted an aggregate of 7,250,000 stock options to certain employees, consultants and contractors of the Company and 1,300,000 stock options to directors of the Company. The options will vest 25% on issuance, 25% four months from date of issuance and 25% at 8 and 12 months from the date of issuance and may be exercised at an exercise price of CAD 0.215 per common share, for a period of two years from the date of issuance or earlier in accordance with the Company’s incentive stock option plan.
Following the grant of stock options, the Company now has a total of 15,000,000 stock options representing approximately 9.18% of the outstanding common shares of the Company.
THC BioMed is one of Canada’s oldest active licensed cannabis companies. It was first licensed to deal with cannabis in 2013 under a Health Canada Section 56 exemption under the Controlled Drugs and Substances Act and has been a Licensed Producer under the current regime since 2016. It aims to be a leader in the beverage and edible space. THC BioMed is a Cannabis Act Licensed Producer of medical and recreational cannabis. It is licensed to cultivate and sell dried, extract, edible and topical cannabis. The Company is on the leading edge of scientific research and the development of products and services related in the medical cannabis industry. Management believes THC BioMed is well-positioned to be in the forefront of this rapidly growing industry.
President and CEO:
THC BioMed Intl Ltd.
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of THC. Forward-looking information is based on certain key expectations and assumptions made by the management of THC. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although THC believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because THC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release include that THC BioMed will be in the forefront of this rapidly growing industry. THC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.