THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES
December 3, 2021 (Source) — XPhyto Therapeutics Corp. (CSE:XPHY)(OTCQB:XPHYF)(FSE:4XT) (the “Company” or “XPhyto“) announces that it has issued an aggregate of 1,850,000 stock options (the “Options“) in accordance with the Company’s stock option plan (the “Option Plan“) at an exercise price of $1.25 per share. 1,750,000 Options will expire on November 29, 2026 and 100,000 Options will expire on November 29, 2023. The Options were granted to certain consultants, directors and officers of the Company. All Options vest as of the date of the grant. Pursuant to CSE policies, the Options and any Common Shares issued upon exercise will be subject to a four month and a day resale restriction from the date of grant.
The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.
About XPhyto Therapeutics Corp.
XPhyto Therapeutics Corp. is a bioscience accelerator focused on next-generation drug delivery, diagnostic, and new active pharmaceutical ingredient investment opportunities, including: precision transdermal and oral dissolvable drug formulations; rapid, low-cost infectious disease and oral health screening tests; and standardization of emerging active pharmaceutical ingredients for neurological applications, including psychedelic compounds and cannabinoids. The Company has research and development operations in North America and Europe, with an operational focus in Germany, and is currently focused on regulatory approval and commercialization of medical products for European markets.
ON BEHALF OF THE BOARD
CEO and Director
Mr. Knox Henderson
SOURCE: XPhyto Therapeutics Corp.