Valens GroWorks Sets Incentive Stock Options
Valens GroWorks Corp. (CSE: VGW) (the “Company”) has granted incentive stock options to an incoming consultant of the Company’s wholly-owned subsidiary, Valens Agritech Ltd., to purchase up to 320,000 common shares of the Company at a price of $1.25 per common share.
The stock purchase options (“Options”) are exercisable on or before February 29, 2020 and vest in stages over the course of three years, with 20,000 Options to vest immediately and 20,000 Options to vest in each three-month period over three years. The remaining 80,000 Options may be vested at the discretion of the Board of Directors based upon the achievement of specific corporate objectives.
The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.
About Valens GroWorks Corp.
Valens GroWorks Corp is a Canadian Securities Exchange listed company with two proposed acquisitions in progress, proposes to provide management, consulting, testing and support services to domestic and international licensees, and seeks to capture a broad spectrum of medical marijuana users, as well as recreational users once legalized, in pursuit of its ambitious farm to pharma objectives.
The Company’s wholly-owned subsidiary, Valens Agritech Ltd. (“VAL”), is a post-inspection applicant awaiting the granting of a Controlled Drugs and Substances Dealer’s Licence for the cultivation and processing of marijuana. Based in the Okanagan Valley of British Columbia, VAL anticipates participation in clinical trial programs researching the efficacy of medical cannabis.
On behalf of the Board of Directors, VALENS GROWORKS CORP.
(signed) “Robert van Santen”
Chief Executive Officer
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This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “anticipates”, “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed”, “positioned” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections
contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable law.
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UPDATE: Valens has since been awarded its Controlled Drugs and Substances Dealer’s Licence. For more information please visit Valens GroWorks Announces LP Strategy.