I co ju ctio with his appoi tme t as P eside t a d CEO, M . Ba ett was g a ted Optio s to pu chase 600,000 commo sha es at a exe cise p ice of $0.45 pe sha e, bei g the closi g p ice of the Compa y’s commo sha es o the CSE o August 21, 2026, the last t adi g day p io to the date of g a t. The Optio s a e exe cisable fo a pe iod of five yea s f om the date of g a t, expi i g August 24, 2031, a d vest as follows:
300,000 Optio s (the “Time-Vested Optio s”) vest as to o e-thi d o each of the fi st, seco d a d thi d a ive sa ies of the date of g a t; a d
300,000 Optio s (the “Pe fo ma ce Optio s”) vest i full o the fi st date that the 30-day volume-weighted ave age t adi g p ice (“VWAP”) of the Compa y’s commo sha es o the CSE equals o exceeds $0.675 pe sha e, ep ese ti g 150% of the exe cise p ice, at a y time p io to the expi y of the Optio s.
The Compa y also g a ted Optio s to pu chase 150,000 commo sha es to each of its fou othe di ecto s, at the same exe cise p ice of $0.45 pe sha e a d o the same five-yea te m,vesti g as to 50% afte 6 mo ths a d the bala ce afte 1 yea .
“This g a t, a d i pa ticula the pe fo ma ce-based compo e t tied to a sustai ed i c ease i ou sha e p ice fo ou ewly appoi ted P eside t a d CEO, di ectly alig s ma ageme t’s i ce tives with the etu s we aim to delive fo sha eholde s,” said Bill Joh sto e, Co po ate Sec eta y a d a di ecto of the Compa y. “The Boa d believes this st uctu e ewa ds lo g-te m value c eatio athe tha the passage of time alo e.”
Fo mo e i fo matio co tact: Dave Ba ett 604-897-9663 email:
Neithe the Ca adia Secu ities Excha ge o its Ma ket Regulato (as that te m is defi ed i the policies of the CSE) accepts espo sibility fo the adequacy o accu acy of this elease.
FORWARD LOOKING STATEMENTS: This p ess elease co tai s fo wa d looki g stateme ts, which elate to futu e eve ts o futu e pe fo ma ce a d eflect ma ageme t’s cu e t expectatio s a d assumptio s. Such fo wa d looki g stateme ts eflect ma ageme t’s cu e t beliefs a d a e based o assumptio s made by a d i fo matio cu e tly available to the Compa y. I vesto s a e cautio ed that these fo wa d-looki g stateme ts a e eithe p omises o gua a tees a d a e subject to isks a d u ce tai ties that may cause futu e esults to diffe mate ially f om those expected. These fo wa d looki g stateme ts a e made as of the date he eof a d, except as equi ed u de applicable secu ities legislatio , the Compa y does ot assume a y obligatio to update o evise them to eflect ew eve ts o ci cumsta ces. All of the fo wa d-looki g stateme ts made i this p ess elease a e qualified by these cautio a y stateme ts a d by those made i ou fili gs with SEDAR+ i Ca ada (available at www.seda plus.com).
