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TORONTO, April 1, 2020 /CNW/ - SQI Diagnostics Inc.
("SQI" or the "Company") (TSX-V: SQD; OTCQB: SQIDF), a life
sciences and diagnostics company that develops and commercializes
proprietary technologies and products for advanced microarray
diagnostics, today announced that effective March 31 2020, the Company has granted 307,500
stock options as part of a Company-wide long-term incentive plan.
The goal of the grant is to align the interest of all employees
with those of shareholders and 300,000 options have been granted to
one officer of the Company.
The options were granted at an exercise price of $0.105. The stock option plan was ratified by
shareholders at the annual and special meeting held on March 31, 2020 and is subject to the approval of
the TSXV. The options have a term of 5 years and vest over a
36-month period. Following the grant of these options there will be
12,078,884 options outstanding. There are currently 276,785,535
common shares outstanding.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that
develops clinical grade multiplexed microarray and molecular assays
run on its automated instrumentation for the pharmaceutical
research, animal health, and clinical diagnostics markets. SQI
develops custom research and diagnostic assays that are
multiplexed; meaning the simplification, consolidation and
automation of many individual tests into one. This increases sample
throughput, reduces time, cost and chance for human error, and
provides excellent data quality. For more information, please visit
www.sqidiagnostics.com.
Contact:
Interim Chief Executive Officer
Eric Brouwer
416.674.9500 ext. 242
ebrouwer@sqidiagnostics.com
Vice President of Finance
Morlan Reddock
416.674.9500 ext. 229
mreddock@sqidiagnostics.com
FORWARD-LOOKING INFORMATION
This press release contains certain words and statements,
which may constitute "forward-looking statements" within the
meaning of applicable securities laws. Such statements reflect the
current views of the Company with respect to future events and are
subject to certain risks and uncertainties detailed in the
Company's ongoing filings with the securities regulatory
authorities, available to the public at
www.sedar.com. Actual results, events, and
performance may differ materially. Readers are cautioned not to
place undue reliance on these forward-looking statements. The
Company undertakes no obligation to publicly update or revise any
forward-looking statements either as a result of new information,
future events or otherwise, except as required by applicable
securities laws.
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.
SOURCE SQI Diagnostics Inc.