TORONTO, May 28, 2018 /CNW/ - Xanthic Biopharma Inc. (formerly Aurquest Resources Inc.) ("Xanthic" or "Company") today announced that it has granted, effective today, an aggregate of 1,000,000 stock options (each an "Option") to various 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 $0.16 per Share for a period of 12 months from the date of grant, being today. The Options will vest immediately.
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. Using a proprietary process, Xanthic empowers its strategic partners to deliver superior cannabinoid solubility, improved bioavailability, accurate micro-dosing, and greater consistency versus competitive infused products. Through its investment in Xanthic Beverages, Xanthic has access to non-cannabis derived CBD-infused products that qualify for distribution outside of the cannabis dispensary network and into mainstream retail. www.xanthicbio.com
This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. There is no assurance that the strategic partnership with Xanthic Beverages will successfully produce benefits for Xanthic. Although such forward-looking statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws.
SOURCE Xanthic BioPharma