Mene Inc. Announces Cancellation and Grant of Stock Options
Menē Inc. (TSX-V:MENE) (US:MENEF), an online 24 karat jewelry brand, has announced the cancellation and re-grant of 7,469,437 incentive stock options to its Chief Executive Officer. The stock options are for purchasing Class B subordinate voting shares under the company's incentive stock option plan. This action requires disinterested shareholder approval, which the company plans to seek at its next annual general and special meeting scheduled for October 10, 2024.
Subject to shareholder and TSX Venture Exchange approval, the stock options will be exercisable at $0.085 per Class B Share. They will vest in five tranches from 2024 to 2028, with approximately 1.49 million options vesting each year. The stock options have a ten-year term from the original grant date of September 7, 2023.
Menē Inc. (TSX-V:MENE) (US:MENEF), un marchio di gioielli in oro 24 carati online, ha annunciato la cancellazione e la nuova concessione di 7.469.437 opzioni azionarie incentivanti al suo Amministratore Delegato. Le opzioni azionarie servono per l'acquisto di azioni di voto subordinate di Classe B secondo il piano di opzioni azionarie incentivanti dell'azienda. Questa azione richiede l'
Soggette all'approvazione degli azionisti e della TSX Venture Exchange, le opzioni azionarie saranno esercitabili a $0.085 per azione di Classe B. Queste saranno maturate in cinque tranche dal 2024 al 2028, con circa 1,49 milioni di opzioni che maturano ogni anno. Le opzioni azionarie hanno un termine di dieci anni dalla data di concessione originale del 7 settembre 2023.
Menē Inc. (TSX-V:MENE) (US:MENEF), una marca de joyería de 24 quilates en línea, ha anunciado la cancelación y nuevo otorgamiento de 7.469.437 opciones de acciones de incentivo a su Director Ejecutivo. Las opciones de acciones son para la compra de acciones de voto subordinadas de Clase B bajo el plan de opciones de acciones de incentivo de la empresa. Esta acción requiere la aprobación de accionistas desinteresados, que la empresa planea solicitar en su próxima reunión general y especial anual programada para el 10 de octubre de 2024.
Sujetas a la aprobación de accionistas y de la Bolsa de Valores de TSX Venture, las opciones de acciones serán ejercitables a $0.085 por acción de Clase B. Se otorgarán en cinco tramos desde 2024 hasta 2028, con aproximadamente 1.49 millones de opciones que se otorgarán cada año. Las opciones de acciones tienen un plazo de diez años desde la fecha de otorgamiento original del 7 de septiembre de 2023.
Menē Inc. (TSX-V:MENE) (US:MENEF), 온라인 24K 보석 브랜드,가 7,469,437개의 인센티브 주식 옵션의 취소 및 재부여를 CEO에게 발표했습니다. 이 주식 옵션은 회사의 인센티브 주식 옵션 계획에 따라 B 클래스의 하위 투표 주식을 구매하기 위한 것입니다. 이 조치는 관여하지 않은 주주 승인이 필요하며, 회사는 2024년 10월 10일로 예정된 다음 연례 일반 및 특별 회의에서 이를 요청할 계획입니다.
주주 및 TSX 벤처 거래소의 승인을 조건으로, 이 주식 옵션은 클래스 B 주식당 $0.085에 행사 가능합니다. 이들은 2024년부터 2028년까지 5개의 분할로 성과를 나타내며, 매년 약 149만 개의 옵션이 분할됩니다. 이 주식 옵션은 2023년 9월 7일의 원래 부여 날짜로부터 10년의 기간이 있습니다.
Menē Inc. (TSX-V:MENE) (US:MENEF), une marque de bijoux en or 24 carats en ligne, a annoncé l'annulation et la nouvelle attribution de 7 469 437 options d'actions incitatives à son Directeur Général. Les options d'actions permettent l'achat d'actions à droit de vote subordonnées de Classe B dans le cadre du plan d'options d'actions incitatives de la société. Cette action nécessite l'approbation des actionnaires non intéressés, que la société prévoit de demander lors de sa prochaine assemblée générale annuelle et spéciale prévue pour le 10 octobre 2024.
Sous réserve de l'approbation des actionnaires et de la TSX Venture Exchange, les options d'actions seront exercées au prix de 0,085 $ par action de Classe B. Elles seront acquises en cinq tranches de 2024 à 2028, avec environ 1,49 million d'options acquises chaque année. Les options d'actions ont une durée de dix ans à compter de la date d'attribution originale du 7 septembre 2023.
Menē Inc. (TSX-V:MENE) (US:MENEF), eine Online-Marke für 24-karätigen Schmuck, hat die Streichung und Neugabe von 7.469.437 Anreizaktienoptionen an ihren Geschäftsführer angekündigt. Die Aktienoptionen dienen dem Kauf von stimmberechtigten B-Klasse-Aktien im Rahmen des Anreizaktienoptionsplans des Unternehmens. Diese Maßnahme erfordert die Zustimmung uninteressierter Aktionäre, die das Unternehmen in seiner nächsten ordentlichen Hauptversammlung und Sonderversammlung am 10. Oktober 2024 anstreben wird.
Vorausgesetzt die Zustimmung der Aktionäre und der TSX Venture Exchange, sind die Aktienoptionen zum Preis von $0.085 pro B-Klasse-Aktie ausübbar. Sie werden in fünf Tranchen von 2024 bis 2028 fällig, wobei jedes Jahr etwa 1,49 Millionen Optionen fällig werden. Die Aktienoptionen haben eine Laufzeit von zehn Jahren ab dem ursprünglichen Gewährungsdatum vom 7. September 2023.
- Incentive alignment with CEO through stock options
- Long-term commitment indicated by 10-year option term
- Potential shareholder dilution from 7,469,437 new stock options
- Exercise price of $0.085 per share may be below current market value
Under TSXV Policy 4.4 – Security Based Compensation, the cancellation and re-grant of security based compensation to the same person within a one year period requires approval of disinterested shareholders of the Company. The Company intends to seek disinterested shareholder approval for the grant of the Stock Options at its next annual general and special meeting of shareholders currently scheduled for October 10, 2024.
Subject to shareholder and TSX Venture Exchange approval, the Stock Options will be exercisable at a price of
- 1,493,888 options vesting on October 10, 2024
- 1,493,888 options vesting on September 7, 2025
- 1,493,888 options vesting on September 7, 2026
- 1,493,888 options vesting on September 7, 2027
- 1,493,885 options vesting on September 7, 2028
The Stock Options shall have a term of ten years from the original date of grant, being September 7, 2023.
About Menē Inc.
Menē crafts pure 24 karat gold and platinum jewelry that is transparently sold by gram weight. Through mene.com, customers may buy jewelry, monitor the value of their collection over time, and sell or exchange their pieces by gram weight at prevailing market prices. Menē was founded by Roy Sebag and Diana Widmaier-Picasso with a mission to restore the relationship between jewelry and savings. Menē empowers consumers by marrying innovative technology, timeless design, and pure precious metals to create pieces which endure as a store of value.
For more information about Menē, visit mene.com.
Forward-Looking Statements
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates and projections as at the date of this news release. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. In particular, but without limiting the foregoing, this news release contains forward-looking information pertaining to the business plans and goals of the Company and shareholder and regulatory approvals for the Stock Options.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the inability to successfully acquire and/or develop jewelry manufacturing facilities; an inability to predict and counteract the effects of pandemics and natural disasters; capital market conditions; restriction on labour and international travel and supply chains; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with the manufacture, sale and distribution of jewelry; actual audited results differing from reported unaudited results; global economic climate; dilution of the Company’s shares; the Company’s limited operating history; future capital needs and uncertainty of raising capital; the competitive nature of the jewelry industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology and manufacturing change; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; theft and risk of physical harm to personnel; reliance and availability of key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; and volatile securities markets impacting security pricing unrelated to operating performance. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240807731475/en/
Media and Investor Relations Inquiries:
Gavin Johnson
Chief Financial Officer
Menē Inc.
ir@mene.com
+ 1 289 748 3702
Source: Menē Inc.
FAQ
How many stock options did Menē Inc. (MENEF) cancel and re-grant to its CEO?
What is the exercise price of the new stock options for Menē Inc. (MENEF)?
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What is the vesting schedule for Menē Inc.'s (MENEF) re-granted stock options?
