CALGARY, Jan. 2, 2020 /CNW/ – Sugarbud Craft Growers Corp. (TSXV: SUGR, SUGR.WT) (“Sugarbud“) is pleased to announce that as part of the corporation’s long term incentive program, and pursuant to the terms and conditions of its stock option plan, the Sugarbud Board of Directors has approved the grant of 15,340,000 stock options to certain directors, officers, employees and consultants. The options expire five years from the date of grant and are exercisable at a price of $0.065 per common share. The options vest as to one third on the grant date and one third on each of the first and second anniversaries of the grant date. To facilitate the option grant, including 900,000 stock options to CEO and Director, John Kondrosky, certain directors have surrendered 6,750,000 options for cancellation, which were cancelled and returned for future grants under Sugarbud’s stock option plan effective immediately.
Sugarbud is a federally licensed Alberta-based publicly traded cannabis company focused on the cultivation and production of high-quality premium cannabis, and product leadership through the development, production and distribution of exceptional value-added cannabis products in Canada.
SOURCE Sugarbud Craft Growers Corp.