BluMetric Announces Stock Option Extension

Rhea-AI Summary

BluMetric Environmental Inc. extends the expiry date for 1,483,000 stock options granted to employees, with no options for directors, officers, or insiders. The extension grants an additional 2 years for the exercise period, maintaining the original exercise prices.

Ottawa, Ontario--(Newsfile Corp. - March 25, 2024) - BluMetric Environmental Inc. (TSXV: BLM) ("BluMetric" or the "Company"), a full-service environmental consulting and engineering cleantech firm, is pleased to announce the extension of the expiry date for 1,483,000 stock options granted by BluMetric to several of its employees (the "Stock Option Extension"). The Stock Option Extension does not include any stock options granted to directors, officers, or insiders of the Company. Of the 1,483,000 stock options subject to the Stock Option Extension, 1,417,000 stock options granted in August 2022 with an exercise price of $0.35 were set to expire on August 24, 2027; and 66,000 stock options granted in February 2023 with an exercise price of $0.40 were set to expire on February 27, 2028. The Board of Directors approved a 2-year extension to the exercise period of each option such that the options will expire on August 24, 2029, and February 27, 2030. There is no change to the exercise price of the stock options. The Stock Option Extension is subject to the approval of the TSX Venture Exchange.

About BluMetric Environmental Inc.

BluMetric Environmental Inc. is a publicly traded environmental consulting and engineering company with expertise across professional and trade disciplines and technologies that allow for the design, fabrication and delivery of sustainable solutions to environmental and water challenges. BluMetric has more than 180 employees operating in ten offices and over 40 years of expertise. Headquartered in Ottawa, Ontario, BluMetric's team of industry experts serves Commercial and Industrial, Military, Mining and Government clients.

For more information, visit www.blumetric.ca or please contact:

Scott MacFabe, CEO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: smacfabe@blumetric.ca

Dan Hilton, CFO
BluMetric Environmental Inc.
Tel: 1-877-487-8436
Email: dhilton@blumetric.ca

Brandon Chow, Principal & Founder
Otis Investor Relations Inc.
Tel: 1-647-598-8815
Email: brandon@otisir.com

Forward-Looking Statements

Some of the statements in this press release, including those relating to the Company obtaining TSX-V approval for the extension of the expiry date of the stock options, and other statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, the information concerning possible or assumed future results of operations of the Company. These statements are not historical facts but instead represent only the Company's expectations, estimates, and projections regarding future events. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents that can be found on SEDAR at www.sedarplus.com. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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/202996

FAQ

What is the stock symbol for BluMetric Environmental Inc.?

The stock symbol for BluMetric Environmental Inc. is BLM.

How many stock options were subject to the Stock Option Extension?

1,483,000 stock options were subject to the Stock Option Extension.

What was the original exercise price of the stock options granted in August 2022?

The stock options granted in August 2022 had an exercise price of $0.35.

When were the stock options granted in February 2023 set to expire?

The stock options granted in February 2023 were set to expire on February 27, 2028.

What is the new expiry date for the stock options after the extension?

The stock options will now expire on August 24, 2029, and February 27, 2030, following the extension.