TORONTO, Feb. 28, 2018 /CNW/ - Xanthic Biopharma Inc. (formerly Aurquest Resources Inc.) ("Xanthic" or "Company") today announced that it has granted, effective today, an aggregate of 2,308,000 stock options (each an "Option") to certain directors, officers, and consultants of the Xanthic in accordance with the Company's current stock option plan. Each Option is exercisable into one common share (a "Share") of the Company at a price of $0.125 per Share for a period of five years from the date of grant, being today. The Options will vest over twenty four months, with one third vesting on the grant date, one third vesting after twelve months from the date hereof, and the remaining one third vesting after twenty four months from the date hereof.
Xanthic, through its wholly-owned operating subsidiary, Xanthic Biopharma Limited, provides valuable intellectual property to cannabis industry participants, enabling its strategic partners to produce high quality, innovative, non-combustible cannabis, and cannabis-infused products which deliver consistent THC and/or CBD levels. Using a proprietary process, Xanthic allows its strategic partners to deliver superior cannabinoid solubility and consistency versus competitive infused products.
Xanthic's securities have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. Persons", as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.
SOURCE Xanthic BioPharma