LANGLEY, BC, May 3, 2016 /CNW/ - Bevo Agro Inc. (BVO:TSX-V) announces that it has granted stock options to its directors on a total of 750,000 common shares of the Company at a price of $0.43 per share, exercisable for a period of 10 years. The options will vest as to 33 1/3% immediately, 33 1/3% after one year and 33 1/3% after two years.
The options were granted under the Company's Stock Option Plan which reserves 2,411,900 common shares for the granting of stock options. The Company has previously-granted options outstanding on 750,000 shares exercisable at $0.18 and 750,000 shares exercisable at $0.36.
Bevo Agro is North America's leading supplier of propagated agricultural plants, operating 45 acres of greenhouse facilities on 98 acres of land in Langley, BC and 20 acres of land in Pitt Meadows, BC. The Company's main products are the propagation of vegetable plants such as tomatoes, peppers, cucumbers, and other plants such as bedding plants, flowers and grasses. The Company markets its products to established greenhouse growers, nurseries and retail outlets throughout North America. The majority of Bevo's sales result from repeat orders through recurring multiyear contracts.
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.
SOURCE Bevo Agro Inc.
For further information: Jack Benne, President, Bevo Agro Inc., Phone: (604) 888-0420, Fax: (604) 888-8048, Email: [email protected]