Harvest One Announces Adoption of a New Fixed Share Option Plan
July 14, 2020 – Vancouver, British Columbia – Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQX: HRVOF) announced today that its Board of Directors has adopted a new 10% fixed stock option plan (the “Stock Option Plan”), which has been approved by the TSX Venture Exchange ("TSXV"). The Stock Option Plan replaces the Company’s previous 10% rolling stock option plan.
Under the Stock Option Plan, the Company may grant options to acquire up to 21,507,948 common shares of the Company, representing 10% of the current issued and outstanding common shares, subject to the terms and conditions prescribed by the TSXV, and applicable securities laws. Any options outstanding under the previous stock option plan will be governed by the new Stock Option Plan.
The Board of Directors of the Company has contemporaneously granted an aggregate of 10,920,000 under the Stock Option Plan. The options have been issued to certain directors, officers and employees of the Company for retention purposes, and in recognition of their continuing efforts in assisting the Company’s transition to a cannabis-focus CPG company. The options are exercisable at a price of $0.085 per share and will have a term of five years from the date of issuance. The stock option grants are subject to approval by the TSXV.
About Harvest One
Harvest One is a global company that develops and distributes premium health, wellness and self-care products with a market focus on sleep, pain, and anxiety. Harvest One is a uniquely positioned company in the cannabis space with a focus on infused and non-infused consumer packaged goods. Harvest One owns and operates three subsidiaries; Satipharm (medical and nutraceutical); Dream Water Global, and Delivra (consumer); as well as a controlling interest in Greenbelt Greenhouse.
For more information, please visit www.harvestone.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
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Nicholas Van Dyk