Mondias Announces an Amendment to its Stock Option Plan
MONTREAL, Feb. 11, 2019 /CNW Telbec/ – Mondias Natural Products Inc. (TSXV: NHP) (“Mondias” or the “Corporation”), a Corporation that specializes in the commercialization and development of evidence based botanical products for the health care and bio agriculture markets, announces that its Board of Directors has approved an amendment to its stock option plan to become effective upon approval by the shareholders of the Corporation at the Annual General Meeting of shareholders to be held later this year and upon receipt of final approval by the TSX Venture Exchange Inc. A copy of the proposed Stock Option Plan will be available from the Chief Executive Officer of the Corporation upon request and will be attached to the Information Circular to be filed on SEDAR, at www.sedar.com, for the upcoming Annual General Meeting of the shareholders.
The Corporation proposes to replace the fixed 20% stock option plan with a rolling 10% stock option plan. Under the rolling 10% stock option plan, the Corporation may grant options to acquire common shares of the Corporation equal to 10% of the issued and outstanding shares from time to time subject to the terms and conditions prescribed by the TSX Venture Exchange Inc. and applicable securities laws.
Currently outstanding options to purchase common shares of the Company granted prior to the amendment will continue to be exercisable and will be governed by and subject to the terms of the amended plan.
Based on the Company’s current issued and outstanding common share amount of 63,135,805, the amended rolling plan maximum is currently 6,313,581 common shares. Prior to the amendments to the plan, the fixed plan maximum was 400,408 common shares.
On January 22, 2019, the Board of Directors had approved the grant, subject to shareholder and regulatory approval, of incentive stock options under the amended 2019, 10% Rolling Stock Option Plan to the directors and officers of the Corporation for the purchase of a total of 2,550,000 shares in its capital. The options are exercisable before January 22, 2029, at the price of $0.235 per share (the closing price of the shares on January 21, 2019). The stock options vest over a 3-year period, with the first vesting period delayed until all regulatory and shareholder approvals are received.
About Mondias Natural Products Inc. Mondias specializes in the commercialization and development of evidence based botanical products for the health care and bio agriculture markets. The company is already selling both oral and topical botanical agents to help manage unmet medical needs through Holizen Laboratories, one of its divisions. Mondias is also developing botanical based specialty fertilizers for use on household plants, urban gardens, lawns, golf courses, nurseries or greenhouses in collaboration with McGill’s Faculty of Agricultural and Environmental Sciences.
For more information, visit : mondias.ca
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