XPhyto Therapeutics Announces Stock Option Grants

Rhea-AI Summary

XPhyto Therapeutics Corp. (CSE:XPHY, OTCQB:XPHYF) announced the issuance of 1,850,000 stock options at an exercise price of $1.25 per share. Of these, 1,750,000 options expire on November 29, 2026, while 100,000 options expire on November 29, 2023. The options were granted to consultants, directors, and officers and will vest immediately. The company's Option Plan allows for the issuance of up to 10% of outstanding shares on a rolling basis. XPhyto focuses on next-generation drug delivery and diagnostics, targeting European market approvals.

Positive

• Issuance of 1,850,000 stock options, indicating management confidence in the company’s future.
• The exercise price of $1.25 is seen as favorable compared to current valuation.
• Options granted to key stakeholders including consultants, directors, and officers.

Negative

• The options issued could lead to share dilution for existing shareholders.
• 100,000 options expire soon on November 29, 2023, raising concerns about short-term execution.

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VANCOUVER, BC / ACCESSWIRE / December 3, 2021 / XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) (the "Company" or "XPhyto") announces that it has issued an aggregate of 1,850,000 stock options (the "Options") in accordance with the Company's stock option plan (the "Option Plan") at an exercise price of $1.25 per share. 1,750,000 Options will expire on November 29, 2026 and 100,000 Options will expire on November 29, 2023. The Options were granted to certain consultants, directors and officers of the Company. All Options vest as of the date of the grant. Pursuant to CSE policies, the Options and any Common Shares issued upon exercise will be subject to a four month and a day resale restriction from the date of grant.

The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.

About XPhyto Therapeutics Corp.

XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.

ON BEHALF OF THE BOARD

"Hugh Rogers"
CEO and Director

Investor Inquiries:

Mr. Knox Henderson
T: 604-551-2360
E: info@xphyto.com

SOURCE: XPhyto Therapeutics Corp.

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FAQ

What are the details of the stock options issued by XPhyto Therapeutics on December 3, 2021?

XPhyto Therapeutics issued 1,850,000 stock options at an exercise price of $1.25 per share, with expiration dates of November 29, 2026, for 1,750,000 options and November 29, 2023, for 100,000 options.

How might the stock options affect XPhyto Therapeutics shareholders?

The issuance of stock options could potentially dilute existing shareholders' equity.

What is the purpose of the stock option plan at XPhyto Therapeutics?

The stock option plan allows the board to grant options equivalent to up to 10% of the company's outstanding shares, incentivizing key personnel.

What focus areas does XPhyto Therapeutics emphasize in its business operations?

XPhyto focuses on drug delivery, diagnostics, and active pharmaceutical ingredient investments, particularly in the European market.