Orchid Ventures Announces Grant of Stock Options

Rhea-AI Summary

Orchid Ventures, Inc. (CSE:ORCD, OTC PINK:ORVRD) has announced the grant of stock options to its directors, officers, and employees. A total of 4,470,000 options have been issued with an exercise price of $0.34 per share. This price is marginally above the closing price of $0.335 on the Canadian Securities Exchange as of April 22, 2021. The options will expire on April 22, 2026 and will vest immediately. Orchid Ventures is recognized for its premium cannabis products and innovative delivery systems.

Positive

• Granting of 4,470,000 stock options enhances employee retention and motivation.
• Exercise price set slightly above the current market price, indicating potential for shareholder value.

Negative

• The stock options could lead to shareholder dilution if exercised extensively.

VANCOUVER, BC / ACCESSWIRE / April 23, 2021 / Orchid Ventures, Inc. (the "Company" or "Orchid") (CSE:ORCD)(OTC PINK:ORVRD) announces that the Company has granted stock options ("Options") to certain of its directors, officers and employees to acquire an aggregate of 4,470,000 common shares of the Company ("Shares").

The Options have an exercise price of $0.34 per Share, being a price slightly higher than the $0.335 closing trading price of the Shares on the Canadian Securities Exchange on April 22, 2021. The Options expire on April 22, 2026 and vest immediately.

About Orchid Ventures, Inc.
Orchid Essentials is a California-based cannabis innovation company that has developed a mass-market brand and loyal consumer following with its premium cannabis products and unique vape hardware delivery systems. Orchid also owns 100% of PurTec Delivery Systems, a company that produces, markets and sells clean vaporizer hardware that has been emissions tested against the most stringent standards in the world set forth by the EU and has unrivaled product quality and value pricing. Orchid's management brings significant branding, product development and distribution experience with a proven track record of scaling businesses and building sustainable revenue growth through value-generating partnerships and innovation that creates enterprise value. Learn more at https://orchidessentials.com/

ON BEHALF OF THE BOARD OF DIRECTORS - ORCHID VENTURES, INC.
Corey Mangold
CEO and Director
investors@orchidessentials.com

Investor Relations
Corey Mangold
949-357-5818
corey@orchidessentials.com

CAUTIONARY STATEMENT REGARDING "FORWARD‐LOOKING" INFORMATION: This news release contains forward‐looking statements. The Company has provided the forward‐looking statements in reliance on assumptions that it believes are reasonable at this time. The reader is cautioned that the assumptions used in the preparation of the forward‐looking statements may prove to be incorrect. All such forward‐looking statements involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, delays resulting from or inability to obtain required regulatory approval. The actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward‐looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward‐looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: Orchid Ventures, Inc.

View source version on accesswire.com:
https://www.accesswire.com/641913/Orchid-Ventures-Announces-Grant-of-Stock-Options

FAQ

What is the stock option grant announced by Orchid Ventures on April 23, 2021?

Orchid Ventures announced a grant of 4,470,000 stock options to directors and employees, with an exercise price of $0.34.

What is the significance of the stock options' exercise price being above the market price?

The exercise price of $0.34 is above the closing price of $0.335, which may reflect confidence in the company's future performance.

When do the stock options granted by Orchid Ventures expire?

The stock options granted by Orchid Ventures will expire on April 22, 2026.

What company is represented by the stock symbol ORVRD?

The stock symbol ORVRD represents Orchid Ventures, Inc.