VANCOUVER, BC, July 14, 2020 /CNW/ - Harvest One Cannabis
Inc. ("Harvest One" or the "Company") (TSXV: HVT)
(OTCQX: HRVOF) announced today that its Board of Directors has
adopted a new 10% fixed stock option plan (the "Stock Option
Plan"), which has been approved by the TSX Venture
Exchange ("TSXV"). The Stock Option Plan replaces the
Company's previous 10% rolling stock option plan.
Under the Stock Option Plan, the Company may grant options to
acquire up to 21,507,948 common shares of the Company, representing
10% of the current issued and outstanding common shares, subject to
the terms and conditions prescribed by the TSXV, and applicable
securities laws. Any options outstanding under the previous stock
option plan will be governed by the new Stock Option Plan.
The Board of Directors of the Company has contemporaneously
granted an aggregate of 10,920,000 under the Stock Option Plan. The
options have been issued to certain directors, officers and
employees of the Company for retention purposes, and in recognition
of their continuing efforts in assisting the Company's transition
to a cannabis-focus CPG company. The options are exercisable
at a price of $0.085 per share and
will have a term of five years from the date of issuance. The stock
option grants are subject to approval by the TSXV.
About Harvest One
Harvest One is a global company that develops and distributes
premium health, wellness and self-care products with a market focus
on sleep, pain, and anxiety. Harvest One is a uniquely positioned
company in the cannabis space with a focus on infused and
non-infused consumer packaged goods. Harvest One owns and
operates three subsidiaries; Satipharm (medical and
nutraceutical); Dream Water Global, and Delivra (consumer); as well
as a controlling interest in Greenbelt Greenhouse.
For more information, please
visit www.harvestone.com.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this release.
SOURCE Harvest One Cannabis Inc.