MustGrow Announces Grant of RSUs and DSUs
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) has announced the grant of 1,575,398 deferred share units (DSUs) and restricted share units (RSUs) to certain directors, officers, and consultants, effective September 3, 2024. This grant is made under the company's Omnibus Equity Incentive Plan. The DSUs will vest when the holder ceases to be a director, officer, or employee of MustGrow or its affiliates. Upon settlement, each DSU will entitle the holder to receive one common share in the company's capital or an equivalent cash payment, at MustGrow's discretion.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha annunciato l'assegnazione di 1.575.398 unità di azioni differite (DSUs) e unità di azioni vincolate (RSUs) a determinati dirigenti, funzionari e consulenti, con effetto dal 3 settembre 2024. Questa assegnazione è effettuata nell'ambito del Piano di Incentivazione Azionaria Omnibus della società. Le DSUs matureranno quando il titolare cesserà di essere un direttore, un funzionario o un dipendente di MustGrow o delle sue affiliate. Al momento della liquidazione, ogni DSU darà diritto al titolare di ricevere una azione ordinaria del capitale della società o un pagamento in contante equivalente, a discrezione di MustGrow.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha anunciado la concesión de 1,575,398 unidades de acciones diferidas (DSUs) y unidades de acciones restringidas (RSUs) a ciertos directores, funcionarios y consultores, con efecto a partir del 3 de septiembre de 2024. Esta concesión se realiza bajo el Plan de Incentivos de Capital Omnibus de la compañía. Las DSUs se consolidarán cuando el titular deje de ser director, funcionario o empleado de MustGrow o de sus afiliados. Al momento de liquidación, cada DSU dará derecho al titular a recibir una acción común del capital de la compañía o un pago en efectivo equivalente, a discreción de MustGrow.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF)는 2024년 9월 3일부로 특정 이사, 임원 및 컨설턴트에게 1,575,398개 보류 주식 단위(DSUs) 및 제한 주식 단위(RSUs)를 부여한다고 발표했습니다. 이 부여는 회사의 종합 자기 자본 인센티브 계획에 따라 이루어집니다. DSUs는 보유자가 MustGrow 또는 그 계열사의 이사, 임원 또는 직원으로서의 자격을 종료할 때 수익이 발생합니다. 정산 시, 각 DSU는 보유자에게 회사 자본에서 하나의 보통주를 받거나 MustGrow의 재량에 따라 동등한 현금 지급을 받을 권리를 부여합니다.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) a annoncé l'attribution de 1 575 398 unités d'actions différées (DSUs) et d'unités d'actions restreintes (RSUs) à certains directeurs, dirigeants et consultants, à compter du 3 septembre 2024. Cette attribution est effectuée dans le cadre du Plan d'Incentive en Capitaux Omnibus de la société. Les DSUs seront acquises lorsque le titulaire cessera d'être directeur, dirigeant ou employé de MustGrow ou de ses filiales. Lors de la liquidation, chaque DSU donnera droit au titulaire de recevoir une action ordinaire du capital de la société ou un paiement en espèces équivalent, selon le choix de MustGrow.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) hat die Vergabe von 1.575.398 aufgeschobenen Aktieneinheiten (DSUs) und beschränkten Aktieneinheiten (RSUs) an bestimmte Direktoren, Führungskräfte und Berater zum 3. September 2024 bekannt gegeben. Diese Vergabe erfolgt im Rahmen des Omnibus-Aktienoptionsplans des Unternehmens. Die DSUs werden fällig, wenn der Inhaber nicht mehr Direktor, Führungskraft oder Mitarbeiter von MustGrow oder dessen Tochtergesellschaften ist. Bei der Abwicklung hat jede DSU dem Inhaber das Recht zu geben, eine Stammaktie des Unternehmenskapitals oder eine gleichwertige Barzahlung nach Wahl von MustGrow zu erhalten.
- Implementation of equity incentive plan to align interests of directors, officers, and consultants with shareholders
- Potential to retain key personnel through long-term incentives
- Potential dilution of existing shareholders' equity
- Future cash outflow if the company chooses cash settlement for DSUs
Saskatoon, Saskatchewan--(Newsfile Corp. - September 4, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") today announced that the board of directors of the Company authorized and approved the grant of a total of 1,575,398 deferred share units ("DSUs") and restricted share units ("RSUs") to certain directors, officers, and consultants of the Company, effective September 3, 2024. This grants of DSUs and RSUs are made pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan").
The DSUs will vest when the holder ceases to be a director, officer or employee of the Company or any of its affiliates, as applicable. On settlement, each DSU will entitle the holder to recive to receive one common share in the capital of the Company or a cash payment equivalent thereof at the discretion of the Company.
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About MustGrow
MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners -- Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions' NexusBioAg -- are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow's biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed®) and California's Organic Input Material (OIM) Program registered biofertility product, TerraSanteTM, in key U.S. states including California. Over 150 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow's patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit www.mustgrow.ca.
Contact Information
Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
© 2024 MustGrow Biologics Corp. All rights reserved.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222171
FAQ
How many DSUs and RSUs did MustGrow Biologics (MGROF) grant on September 3, 2024?
When do the DSUs granted by MustGrow Biologics (MGROF) vest?
What options does MustGrow Biologics (MGROF) have for settling the DSUs?
Under which plan were the DSUs and RSUs granted by MustGrow Biologics (MGROF)?
