Wellness Lifestyles Inc. Announces Grant of Stock Options and Advisory Agreement Share Issuance
VANCOUVER, B.C. – Wellness Lifestyles Inc. (TSX.V: WELL) (the “Company” or “WELL”), a company focused on mergers and acquisitions within the general wellness and primary healthcare sector, is pleased to announce that it has granted 2,375,000 stock options to its directors and officers and 75,000 stock options to one consultant for the purchase of up to an aggregate of 2,450,000 common shares of the Company, pursuant to its Stock Option Plan. Each stock option granted to the optionees is exercisable for a period of five years at an exercise price of $0.39 per common share. Common shares issuable upon the exercise of the stock options held by directors and officers of the Company will be subject to an Exchange Hold Period of four months and one day from the date of grant of the stock options. 1,025,000 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. 1,425,000 stock options granted to certain officers and the consultant vest over a four year period in equal quarterly amounts of 6.25%, commencing on the first anniversary of the date of grant.
Advisory Agreement Share Issuance
Further to the Company’s news release dated May 15, 2017 announcing its Advisory Agreement with Gravitas Securities Inc., the Company will issue 240,000 common shares at a deemed price of $0.15 per common share to Gravitas Securities Inc., subject to filing with the TSX Venture Exchange. This represents payment for the monthly retainer that is payable quarterly.
All securities issued pursuant to the Advisory Agreement are subject to a hold period expiring on the date that is four months and one day from the issuance of the securities.
About Gravitas Securities Inc.
Gravitas is known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global integration and innovation, and as a leading independent wealth management and capital markets firm. Gravitas provides a wide range of investment mandates and services for retail and corporate clients globally from offices in Toronto and Vancouver and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York.
WELLNESS LIFESTYLES INC.
Per: “Alex Read”
Chief Executive Officer
For further information:
Wellness Lifestyles Inc.
Alex Read, Chief Executive Officer
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.