Director Option Grant

Rhea-AI Summary

Sativa Wellness Group announces the grant of 1,447,173 options and 1,447,173 warrants to CEO Marc Howells. Both options and warrants have an exercise price of CS0.062 and vest immediately. The options are valid for 5 years, while the warrants are valid for 3 years. These grants replace returned options from former employees, thereby not increasing the total outstanding options and warrants. This information is part of a broader disclosure made by the company on SEDAR.

Positive

• The issuance of options and warrants does not increase the overall number of options and warrants of the company, indicating stability in equity structure.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 12, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ("Sativa Wellness" or the "Company") announces that Marc Howells, Chief Executive Officer, has been awarded 1,447,173 options over 1,447,173 Common Shares of the Company (“Director Options”). The Director Options vest immediately, have an exercise price of CS0.062 cents and are valid for 5 years. The exercise price of the Director Options, represents the closing mid-market price per Common Share on 8 July 2021, being the last practical date prior to the grant of the Director Options.

The Directors Options are issued under the EMI Option Agreement entered into on 8 July 2021, between the Company and Marc Howells.

Further, the Company also issued 1,447,173 warrants over 1,447,173 Common Shares of the Company, that vest immediately, have an exercise price of CS0.062 cents and are valid for 3 years. These warrants have been granted for consultancy services to the Company.

The options and warrants issued replace options returned from employees leaving the company so do not increase the overall number of options and warrants of the company.

For further information regarding Sativa Wellness, see Sativa Wellness' disclosure documents on SEDAR at www.sedar.com.

On behalf of the Board of Directors,

Marc Howells
Chief Executive Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com

Anne Tew
Chief Financial Officer
Sativa Wellness Group Inc.
+44 (0) 20 7971 1255
enquiries@sativawellnessgroup.com
www.sativawellnessgroup.com

The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.

This news release contains forward-looking statements relating to the completion of the Offering and other statements that are not historical facts. Forward-looking statements are often identified by terms such as 'will', 'may', 'should', 'anticipate', 'expects' and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include the failure to satisfy the conditions of the Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.

SOURCE: Sativa Wellness Group Inc.

View source version on accesswire.com:
https://www.accesswire.com/655119/Director-Option-Grant

FAQ

What options were granted to Marc Howells of Sativa Wellness Group?

Marc Howells was granted 1,447,173 options over common shares with an exercise price of CS0.062.

What is the validity period of the options granted to Sativa Wellness Group's CEO?

The options granted to the CEO are valid for 5 years.

What is the purpose of the warrants issued by Sativa Wellness Group?

The warrants were granted for consultancy services and have an exercise price of CS0.062, valid for 3 years.

How do the issued options and warrants affect Sativa Wellness Group's capital structure?

The issued options and warrants do not increase the overall number of options and warrants, maintaining the existing capital structure.