Solarvest Announces Grant of Incentive Stock Options
Vancouver, BC – TheNewswire - February 19, 2021 - SOLARVEST BIOENERGY INC. (TSXV:SVS) ("Solarvest" or the “Company”), is pleased to announce that, in accordance with the Company's Stock Option Plan, it has granted to certain directors, officers, employees and consultants, incentive stock options to purchase up to an aggregate of 3,360,000 common shares exercisable at a price of $0.40 per share for a period of three years from the grant date. Of these stock options, 1,600,000 will be granted to Insiders of the Company, including a grant of 425,000 options to an officer and director who is also a Control Person of the Company and is exempt from shareholder approval accordance with section 5.7(1)(a) of MI 61-101.
The number of listed shares reserved for issuance under Solarvest’s Stock Option Plan is 4,383,472 (10% of the issued and outstanding shares of the Company). There are no options outstanding and subsequent to the grant of options presented above, 1,023,472 options remaining available for issuance under the Plan.
Gerard Watts has agreed to accept the position of interim CFO, Gerard has been performing in the Comptroller position and will accept this extra responsibility while the company performs an executive search for a full time replacement.
Solarvest BioEnergy Inc. is an algae biotechnology company whose production platform provides it with an extremely flexible system capable of producing numerous valuable products from Organic Omega-3 fatty acids to therapeutic proteins/active ingredients. The company has successfully demonstrated (news release dated March 16th. 2015) the expression of BMP, a high value therapeutic protein, recombinant viral antigens (immune stimulating proteins), and Cecropins (antimicrobial peptide/protein). The company has initiated a program for the expression of CBD and THC to be produced in GMP fermentation facilities.
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The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
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.
Statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections.