VANCOUVER, BC, June 2, 2023 /CNW/ - NEXE Innovations Inc. ("NEXE" or the "Company"), (TSXV: NEXE) (OTC Markets: 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 1,865,000 options (the "Options") to purchase up to an aggregate of 1,865,000 common shares of the Company (the "Option Shares") for a period of five years from June 2, 2023 (the "Grant Date") at an exercise price of $0.40 per Option Share, being the closing price of the common shares of the Company on the TSX Venture Exchange (the "Exchange") on June 1, 2023. 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 December 15, 2020, as most recently amended on March 30, 2022 (the "Plan") and in accordance with the policies of the Exchange.
The Grant was implemented at the recommendation of the Compensation Committee of the Company.
Following the Grant, a total of 3,192,538 common shares of the Company remain issuable under the Plan.
NEXE Innovations Inc. is a leader in innovative compostable materials technology based in British Columbia, Canada. The first product developed by NEXE Innovations is one of the only patented, fully-compostable, single-serve coffee pods for use in existing major single-serve coffee machines.
For more information about NEXE's compostable materials and how it is well-positioned to meet the growing demand for environmentally friendly and sustainable products, visit www.nexeinnovations.com and follow us on social media @nexeinnovations.
On behalf of the Company:
Ash Guglani
President & Director
For investor relations contact:
Kam Mangat
VP, Investor Relations & Corporate Strategy
[email protected]
Office +1-604-359-4725
Mobile +1-604-359-4742
For media relations contact: [email protected]
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.
SOURCE NEXE Innovations Inc.
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