VANCOUVER, BC,
March 18, 2022 /CNW/ -
NEXE Innovations Inc. ("NEXE" or the "Company"), (TSXV: NEXE) (OTC:
NEXNF) (Frankfurt: NX5), a leader in plant-based materials
manufacturing, is pleased to announce a grant (the "Grant")
to certain directors, officers, employees and consultants of the
Company of 3,070,000 options (the "Options") to purchase up
to an aggregate of 3,070,000 common shares of the Company (the
"Option Shares") for a period of five years from
March 17, 2022 (the "Grant
Date") at an exercise price of $0.495 per Option Share, being the closing price
of the common shares of the Company on the TSX Venture Exchange
(the "Exchange") on March 16,
2022. The Options will vest in three equal installments with
1/3 vesting six months from the Grant Date, 1/3 vesting 12 months
from the Grant Date and the remaining 1/3 vesting 18 months from
the Grant Date, all on the terms of the stock option plan of the
Company dated March 12, 2021 (the
"Plan") and in accordance with the policies of the
Exchange.
The Grant is the first grant of options since the completion of
the Company's going public transaction in December 2020, and was implemented at the
recommendation of the Compensation Committee of the Company,
following its retention of an independent third party compensation
advisor.
Following the Grant, a total of 5,057,538 options remain
available for grant under the Plan.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in plant-based compostable
technology and advanced materials manufacturing based in
British Columbia, Canada. The
company has developed one of the only patented, fully compostable,
plant-based, single-serve coffee pods for use in leading
single-serve coffee machines. The proprietary NEXE pod is designed
to reduce the significant environmental impact caused by
single-serve pods, >50 billion of which are discarded every
year. With over $60M raised to date
from equity and government funding and over five years of R&D,
NEXE is well-positioned to meet the growing demand for
environmentally friendly and sustainable products in the
single-serve coffee sector and beyond. Learn
more:https://nexeinnovations.com/
Social Media
Twitter: https://twitter.com/nexeinnovations
Facebook: https://www.facebook.com/nexeinnovations
LinkedIn: https://www.linkedin.com/company/nexeinnovations
Instagram: https://www.instagram.com/nexeinnovations
Neither the TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this release are forward-looking
statements or information, which include, but are not limited to,
statements in respect of the terms of the Options and other
matters. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. The reader is cautioned that
assumptions used in the preparation of any forward-looking
information may prove to be incorrect. Events or circumstances may
cause actual results to differ materially from those predicted, as
a result of numerous known and unknown risks, uncertainties, and
other factors, many of which are beyond the control of the Company,
including but not limited to, the ability of the Company to abide
by the terms of the Options. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in
the future, including the demand for its products, anticipated
costs, and the ability to achieve goals. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include, receipt of necessary approvals
and general economic, market or business conditions.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement. The reader is
cautioned not to place undue reliance on any forward-looking
information.
The forward-looking statements contained in this news release
are made as of the date of this news release. Except as required by
law, the Company disclaims any intention and assumes no obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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SOURCE Nexe Innovations Inc.