Ceapro Announces Grant of Stock Options and Restricted Share Units
EDMONTON, Alberta, Jan. 06, 2020 (GLOBE NEWSWIRE) -- Ceapro Inc. (TSX-V: CZO) (“Ceapro” or the “Company”), a growth-stage biotechnology company focused on the development and commercialization of active ingredients for healthcare and cosmetic industries, today announced the granting of stock options (“options”) and restricted share units (“RSUs”) to all employees, officers and directors of the Company.
Options to purchase 380,000 common shares were granted pursuant to the Company’s Stock Option Plan, with an exercise price of $0.36 per common share. Each grant vests in three equal instalments, the first of which vests immediately with the second and third instalments vesting on the first and second anniversaries of the date of grant. Each option is exercisable, once vested, for a period of five years from the date of the grant.
The Company also granted 140,000 RSUs pursuant to the Company’s Restricted Share Unit Plan. The RSU awards vest in one instalment, on January 31, 2020. Each RSU entitles the holder to receive one common share of the Company.
The granting of all options and RSUs is subject to TSX Venture approval.
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company involved in the development of proprietary extraction technology and the application of this technology to the production of extracts and “active ingredients” from oats and other renewable plant resources. Ceapro adds further value to its extracts by supporting their use in cosmeceutical, nutraceutical, and therapeutics products for humans and animals. The Company has a broad range of expertise in natural product chemistry, microbiology, biochemistry, immunology and process engineering. These skills merge in the fields of active ingredients, biopharmaceuticals and drug-delivery solutions.
For more information on Ceapro, please visit the Company’s website at www.ceapro.com.
For more information contact:
Jenene Thomas Communications, LLC
Investor Relations and Corporate Communications Advisor
T (US): +1 (833) 475-8247
Gilles R. Gagnon, M.Sc., MBA
President & CEO
Neither 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.
Released January 6, 2020