Bioasis Technologies Inc. Announces Stock Option Grants

Rhea-AI Summary

Bioasis Technologies Inc. (TSXV:BTI; OTCQB:BIOAF) has announced the granting of stock options to acquire 2,011,000 common shares at a price of $0.13 per share, effective August 8, 2022. The options are set to expire five years from the grant date and are part of annual remuneration for directors, officers, and an investor relations consultant. This move aims to incentivize key personnel as Bioasis develops its proprietary xB3 platform for treating CNS disorders and rare diseases.

Positive

• Granting of stock options may enhance employee motivation and retention.
• Price of options set at $0.13 could be favorable compared to current market price.

Negative

• Issuing stock options could lead to potential dilution of shares for existing shareholders.

NEW HAVEN, Conn., Aug. 08, 2022 (GLOBE NEWSWIRE) -- BIOASIS TECHNOLOGIES INC. (TSXV:BTI; OTCQB:BIOAF), (the “Company” or “Bioasis”), a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factors and a differentiated, proprietary xB³ platform for delivering therapeutics across the blood-brain barrier (“BBB”) and the treatment of central nervous system (“CNS”) disorders in areas of high unmet medical need, today announced that it has granted stock options to acquire a total of 2,011,000 common shares effective August 8, 2022 at a price of $0.13 per share to directors and officers of the Company and an investor relations consultant. All of the options expire five years from the date of the grant and are governed by the terms of the company’s stock option plan. The options are being issued as part of annual remuneration.

On behalf of the Board of Directors of Bioasis Technologies Inc.
Deborah Rathjen, Ph.D., Executive Chair of the Board

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About Bioasis
Bioasis Technologies Inc. is a multi-asset rare and orphan disease biopharmaceutical company developing clinical stage programs based on epidermal growth factors and the xB³ ™ platform, a proprietary technology for the delivery of therapeutics across the blood brain barrier and the treatment of CNS disorders in areas of high unmet medical need. The delivery of therapeutics across the blood brain barrier represents the final frontier in treating neurological disorders. The in-house development programs at Bioasis are designed to develop symptomatic and disease-modifying treatments for brain-related diseases and disorders. For more information about the Company, please visit www.bioasis.us.

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

Contacts:
Deborah Rathjen, Ph.D., Executive Chair of the Board and CEO
deborah@bioasis.us
203-533-7082

Investor Contact:
Graeme Dick
Colwell Capital Corp.
graeme@colwellcapital.com
403-561-8989

FAQ

What is the significance of Bioasis granting stock options on August 8, 2022?

The stock options, totaling 2,011,000 shares at $0.13 each, are aimed at rewarding and retaining key personnel.

How long are the stock options granted by Bioasis valid?

The stock options expire five years from the grant date of August 8, 2022.

What is the impact of stock options on Bioasis shareholders?

Issuing stock options can potentially dilute existing shareholder equity.

What is Bioasis Technologies known for?

Bioasis is focused on developing therapies for CNS disorders using its proprietary xB3 platform.

What does the $0.13 stock option price indicate for Bioasis?

The option price suggests a potentially favorable opportunity for employees relative to market prices.