JEMTEC INC.
TSX-V: JTC
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.
FORWARD-LOOKING STATEMENTS
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.