Entourage Health Corp.
(TSX-V: ENTG) (OTCQX: ETRGF)
(FSE:4WE) ("Entourage" or the "Company"), a Canadian
producer and distributor of award-winning cannabis products,
announced today that, in accordance with the provisions of its
omnibus equity incentive compensation plan (the “Omnibus Plan”),
the Company has authorized the issuance of an aggregate of
1,600,000 deferred share units (“DSUs”) to non-management directors
of the Company as compensation for their services. The DSUs will
vest on March 31, 2024 and are granted in lieu of cash compensation
for services rendered during the first quarter of 2023. The
Company’s board of directors (the “Board”) has approved a cap on
the number of DSUs payable to each director as part of their
quarterly fee payment at 400,000 DSUs. By capping the number of
DSUs issuable to directors, the Board is providing the Company with
more flexibility to grant equity awards to management, creating
greater incentives to drive improvements in shareholder value.
The purpose of the Omnibus Plan is to promote
greater alignment of interests between the Company's shareholders
and directors and management while reducing the cash expense of
compensating its directors. Further details regarding the Omnibus
Plan are available in the Company’s management information circular
dated May 8, 2022, which is available on SEDAR.
The Company is also pleased to announce it has
entered into shares-for-debt agreements with certain senior
employees of the Company, under which the Company will, subject to
the approval of the TSXV, issue up to an aggregate of 1,423,057
common shares of the Company at a deemed price of $0.03 per share
in satisfaction of approximately $91,522.56, less required employer
deductions and withholdings, owing to such senior employees. By
entering into these agreements, the Company is preserving cash
while also promoting share ownership within the leadership ranks of
the business, further incentivizing management to deliver value
back to the Company’s shareholders over the long term.
Visit our website here and access our latest
investor presentation and corporate deck here.
For more information, please visit us at
www.entouragehealthcorp.com
About Entourage Health
Corp.
Entourage Health Corp. is the publicly traded
parent Company of Entourage Brands Corp. and CannTx Life Sciences
Inc., licence holders producing and distributing cannabis products
for both the medical and adult-use markets. The Company owns and
operates a state-of-the-art hybrid greenhouse and processing
facility located on 158-acres in Strathroy, ON; a fully licensed
26,000 sq. ft. Aylmer, ON processing facility. With its Starseed
Medicinal medical-centric brand, Entourage has expanded its
multi-channeled distribution strategy. Starseed’s industry-first,
exclusive partnership with LiUNA, the largest construction union in
Canada, along with employers and union groups complements
Entourage’s direct sales to medical patients. With the launch of
Syndicate, Entourage now hosts another unique medical marketplace
that offers patients a collective of Canadian micro-cultivators’
products, along with Entourage’s family of brands. Entourage’s
elite adult-use product portfolio includes Color Cannabis and
Saturday Cannabis – sold across eight provincial distribution
agencies. It is the exclusive Canadian producer and distributor of
award-winning U.S.-based wellness brand Mary’s Medicinals sold in
both medical and adult-use channels. Under a collaboration with The
Boston Beer Company subsidiary, Entourage is also the exclusive
distributor of cannabis-infused beverages ‘TeaPot’ in Canada, which
launched in summer 2022, starting in select provinces. In addition,
Entourage also entered into an exclusive agreement with Irwin
Naturals, a renowned nutraceutical and herbal supplement formulator
of popular branded wellness products sold across North America. The
new line of CBD soft gels is now available on Starseed’s medical
platform.
Follow Entourage and its brands
on LinkedIn
Twitter: Entourage, Color
Cannabis, Saturday Cannabis, Starseed &
Syndicate
Instagram: Entourage, Color
Cannabis, Saturday Cannabis, Starseed, &
Syndicate
For Investor & Media
Enquiries:Catherine FlamanSenior Director, Communications
& Corporate
Affairs416-910-0279Catherine.flaman@entouragecorp.com
Forward Looking Information
This press release contains "forward-looking information" within
the meaning of applicable Canadian securities legislation which are
based upon Entourage's current internal expectations, estimates,
projections, assumptions and beliefs and views of future events.
Forward-looking information can be identified using forward-looking
terminology such as "expect", "likely", "may", "will", "should",
"intend", "anticipate", "potential", "proposed", "estimate" and
other similar words, including negative and grammatical variations
thereof, or statements that certain events or conditions "may",
"would" or "will" happen, or by discussions of strategy.
The forward-looking information in this news
release is based upon the expectations, estimates, projections,
assumptions, and views of future events which management believes
to be reasonable in the circumstances. Forward-looking information
includes estimates, plans, expectations, opinions, forecasts,
projections, targets, guidance, or other statements that are not
statements of fact. Forward-looking information necessarily involve
known and unknown risks, including, without limitation, risks
associated with general economic conditions; adverse industry
events; loss of markets; future legislative and regulatory
developments; inability to access sufficient capital from internal
and external sources, and/or inability to access sufficient capital
on favourable terms; the cannabis industry in Canada generally; the
ability of Entourage to implement its business strategies; the
COVID-19 pandemic; competition; crop failure; and other risks.
Any forward-looking information speaks only as
of the date on which it is made, and, except as required by law,
Entourage does not undertake any obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise. New factors emerge from
time to time, and it is not possible for Entourage to predict all
such factors. When considering this forward-looking information,
readers should keep in mind the risk factors and other cautionary
statements in Entourage’s disclosure documents filed with the
applicable Canadian securities' regulatory authorities on SEDAR at
www.sedar.com. The risk factors and other factors noted in the
disclosure documents could cause actual events or results to differ
materially from those described in any forward-looking
information.
NEITHER THE 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
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