Wellness Lifestyles Inc. Announces Grant of Stock Options
VANCOUVER, B.C. – Wellness Lifestyles Inc. (TSX.V: WELL) (the “Company” or “WELL”) is the owner and operator of Primary Healthcare facilities and Wellness Centres in Canada and is pleased to announce that it has granted 2,525,000 stock options to three directors, one of whom is an officer, three employees and one consultant (the “Optionees”) for the purchase of up to an aggregate of 2,525,000 common shares of the Company (each, a “Share”), pursuant to the Company’s Stock Option Plan. Shares issuable upon the exercise of the stock options held by three directors, one of whom is an officer of the Company, will be subject to a TSX Venture Exchange hold period of four months and one day from the date of grant of the stock options. Each stock option granted to the Optionees is exercisable for a period of five years at an exercise price of $0.50 per Share. 600,000 stock options granted to certain directors vest as follows: (i) 25% vest on the date of grant, and (ii) 75% vest over a three year period in equal quarterly amounts of 6.25%, commencing three months after the date of grant. 1,925,000 stock options granted to a certain officer, three employees and one consultant vest over a four year period in equal quarterly amounts of 6.25%, commencing on the first anniversary of the date of grant.
WELLNESS LIFESTYLES INC.
Per: “Hamed Shahbazi”
Chief Executive Officer, Chairman and DirectorFor further information:
Wellness Lifestyles Inc.
Suite 300 – 322 Water Street
Vancouver, B.C. V6B 1B6
Hamed Shahbazi, Chief Executive Officer, Chairman and Director
Phone: (604) 628-7266
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.