Heritage Cannabis Holdings Corp. Grant of Options

Rhea-AI Summary

Heritage Cannabis Holdings Corp. (CSE: CANN; OTCQX: HERTF) has granted 13,875,000 stock options to its directors, officers, employees, and consultants. These options are priced at $0.10 per share and set to expire on September 17, 2026. The vesting schedule includes a third vesting upon grant, another third in twelve months, and the final third in twenty-four months. The company, a leader in the cannabis industry, operates two licensed manufacturing facilities in Canada and offers a range of products under various brands.

Positive

• Granting of 13,875,000 stock options could incentivize employees and align interests with shareholders.
• Stock options are priced attractively at $0.10, potentially motivating growth within the company.

Negative

• None.

TORONTO--(BUSINESS WIRE)-- Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), today announced it has granted a total of 13,875,000 incentive stock options under the Company’s Stock Option Plan to directors, officers, and employees and/or consultants. The options are exercisable at $0.10 per share and will expire September 17, 2026. The Options are subject to vesting provisions such that 1/3 of the Options vest on the date of grant, 1/3 of the Options vest twelve months (12) months from the date of grant, 1/3 of the Options vest twenty-four (24) months from the date of grant.

About Heritage Cannabis Holdings Corp.

Heritage is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the U.S., operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, feelgood., CB4 and ArthroCBD.

ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.

“David Schwede”

David Schwede
CEO

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210917005529/en/

Kelly Castledine

Tel: 647-660-2560

kcastledine@heritagecann.com

Source: Heritage Cannabis Holdings Corp.

FAQ

What stock options were granted by Heritage Cannabis on September 17, 2023?

Heritage Cannabis granted 13,875,000 stock options at $0.10 per share, expiring on September 17, 2026.

What is the vesting schedule for the stock options granted by Heritage Cannabis?

The options vest in three phases: 1/3 on grant date, 1/3 after 12 months, and the final 1/3 after 24 months.

What brands does Heritage Cannabis operate under?

Heritage offers products under brands such as Purefarma, Pura Vida, RAD, Premium 5, feelgood., CB4, and ArthroCBD.

What is the purpose of granting stock options by Heritage Cannabis?

The stock options are intended to incentivize directors, officers, and employees, aligning their interests with those of shareholders.