NervGen Pharma Grants Stock Options

Rhea-AI Summary

NervGen Pharma Corp. (TSXV: NGEN, OTCQX: NGENF) has granted 950,000 incentive stock options to its directors and consultants. These options are exercisable at $1.79 per share. Of the total, 400,000 options are exercisable for five years, vesting equally every three months over one year, while 550,000 options are exercisable for ten years, vesting equally every six months over two years. All options are granted in accordance with TSX Venture Exchange policies and the company's stock option plan. This move aligns with NervGen's commitment to developing treatments for nervous system damage.

Positive

• Granted 950,000 incentive stock options, potentially motivating directors and consultants.
• Stock options priced at $1.79 per share, offering an investment opportunity.
• 550,000 options have a ten-year exercisable period, indicating long-term confidence.
• Options granted in accordance with TSX Venture Exchange policies, ensuring compliance.

Negative

• Stock options can dilute existing shareholders' equity.
• Short-term vesting of 400,000 options might not encourage long-term retention.

Vancouver, British Columbia--(Newsfile Corp. - June 6, 2024) - NervGen Pharma Corp. (TSXV: NGEN) (OTCQX: NGENF) a clinical-stage biotech company dedicated to developing innovative solutions for the treatment of nervous system damage, announced that the company has granted 950,000 incentive stock options to directors and consultants of the company exercisable at a price of $1.79 per share (the "Options"). 400,000 of the Options are exercisable for a period of five years and vest equally every three months over a one-year period and 550,000 of the Options are exercisable for a period of ten years and vest equally every six months over a two-year period. All options have been granted in accordance with the policies of the TSX Venture Exchange and the conditions of the company's stock option plan.

About NervGen

NervGen is a clinical stage biotech company dedicated to developing innovative treatments that enable the nervous system to repair itself following damage, whether due to injury or disease. NervGen's lead drug candidate, NVG-291, is being evaluated in a Phase 1b/2a clinical trial in the company's initial target indication, spinal cord injury. For more information, visit www.nervgen.com and follow NervGen on X, LinkedIn, and Facebook for the latest news on the company.

Contacts

Huitt Tracey, Corporate Communications
htracey@nervgen.com
604.537.2094

Bill Adams, Chief Financial Officer
info@nervgen.com
778.731.1711

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211994

FAQ

What is the stock symbol for NervGen Pharma?

NervGen Pharma's stock symbols are TSXV: NGEN and OTCQX: NGENF.

How many stock options did NervGen Pharma grant?

NervGen Pharma granted 950,000 incentive stock options.

What is the exercise price for NervGen Pharma's stock options?

The exercise price for NervGen Pharma's stock options is $1.79 per share.

What is the vesting period for NervGen Pharma's stock options?

400,000 options vest every three months over one year, and 550,000 options vest every six months over two years.

How long are NervGen Pharma’s stock options exercisable?

400,000 options are exercisable for five years, and 550,000 options are exercisable for ten years.