Vitality Retains Julian C. Burreci for Investor Relations
Trading Symbol: VPI
VANCOUVER, May 3, 2018 /CNW/ - Vitality Products Inc. (the "Company" or "Vitality") is pleased to announce that it has retained Julian C. Burreci to provide investor relations and corporate finance and investment sourcing related services to the Company. Mr. Burreci's business is to provide information on the Company to shareholders and qualified investors through internet media, advertising, presentations, conferences and trade shows with a goal of improving the Company's overall visibility in the investment community.
The contract with Mr. Burreci is for an initial term of six months. Mr. Burreci will be paid a monthly retainer of $5,000 per month which includes investor relations consulting fees, as well as all expenses related to corporate finance duties. Mr. Burreci has been granted 100,000 stock options, exercisable at a price of $0.13 for a period of five years. The options shall vest in increments of 25% in each of the first four quarters, and are governed by the terms and conditions of the Company's stock option plan. The contract with Mr. Burreci is subject to regulatory approval.
Mr. Burreci is a resident of British Columbia and currently maintains his offices in Vancouver, British Columbia. Mr. Burreci is at arm's length to the Company. Mr. Burreci does not own any securities of the Company.
Vitality Grants 2,000,000 Incentive Stock Options
Vitality announces that, pursuant to its stock option plan, the Company has granted incentive stock options to directors, officers, employees and consultants which will entitle the option holders to purchase up to 2,000,000 common shares of the Company at a price of $0.13 per share for a period of five years. The total number of incentive stock options granted includes the 100,000 options granted to Mr. Burreci. These options are not subject to any vesting schedule, except the options granted to Mr. Burreci, and may be exercised at any time up to the expiry date of May 3, 2023. These options are subject to a hold period of four months and a day from May 3, 2018.
VITALITY® is an award-winning line of clean vitamins and supplements, marketed to natural health retailers and health and wellness conscious consumers. Manufactured locally in BC, and currently sold in over 500 stores nationally, the products are vegan, non-GMO and third party tested. Following the proven success of the line through repeat orders, same store sales growth, and reaching profitability, the Company is focused on expanding distribution and growing sales in-store and online (at vitality.ca, well.ca and amazon.ca); evaluating, researching and developing new products for future distribution; and exploring new markets for its products.
On behalf of the Board of
VITALITY PRODUCTS INC.
"W. Douglas Grant" (signed)
W. Douglas Grant, President & CEO
Information set forth in this news release involves forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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SOURCE Vitality Products Inc.
For further information: Vitality Products Inc., W. Douglas Grant, President and CEO, (604) 683-6611, firstname.lastname@example.org