VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) — Simply Better Brands Corp. (TSX Venture Exchange (“TSXV“): SBBC) (the “Company” or “SBBC“) announced today that, subject to regulatory approval, it has granted a total of 1,363,030 options to purchase common shares of SBBC to directors, officers, employees and consultants of SBBC, with an exercise price of $5.70 and an expiry date of July 26, 2026. In addition, the Company issued 890,000 restricted stock units (“RSUs“) of SBBC to directors, officers, employees and consultants of SBBC. The options and RSUs are subject to the provisions of the Company’s equity incentive plan, as approved by SBBC’s shareholders at its most recent annual general meeting.
The Company relied on section 5.5(b) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as the exemption from the formal valuation requirements of MI 61-101 and TSXV Policy 5.9 in respect of the grant of options and RSUs to the directors and officers of the Company as the common shares of the Company are not listed on a specified market (as the common shares are only listed on the TSXV). The Company relied on section 5.7(1)(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 and TSXV Policy 5.9 in respect of the grant of options and RSUs to the directors and officers of the Company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the grant of the options and RSUs to the directors and officers of the Company exceeded 25% of the Company’s market capitalization.
About Simply Better Brands Corp.
Simply Better Brands Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The Company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plant-based, natural, and clean ingredient space. The Company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skin care industries. For more information on Simply Better Brands Corp., please visit: https://www.simplybetterbrands.com/investor-relations.
Contact Information
Brian Meadows, CFO
+1 (855) 553-7441
ir@simplybetterbrands.com
Neither 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.
