VANCOUVER, BC, Canada – NEXE Innovations Inc. (“NEXE” or the “Company”), (TSXV: NEXE) (OTC Markets: NEXNF) (Frankfurt: NX5), a leader in plant-based materials manufacturing, is pleased to announce a grant (the “Grant”) to certain directors, officers, employees and consultants of the Company of 1,865,000 options (the “Options”) to purchase up to an aggregate of 1,865,000 common shares of the Company (the “Option Shares”) for a period of five years from June 2, 2023 (the “Grant Date”) at an exercise price of $0.40 per Option Share, being the closing price of the common shares of the Company on the TSX Venture Exchange (the “Exchange”) on June 1, 2023.
The Options will vest in three equal installments with 1/3 vesting six months from the Grant Date, 1/3 vesting 12 months from the Grant Date and the remaining 1/3 vesting 18 months from the Grant Date, all on the terms of the stock option plan of the Company dated December 15, 2020, as most recently amended on March 30, 2022 (the “Plan”) and in accordance with the policies of the Exchange.
The Grant was implemented at the recommendation of the Compensation Committee of the Company.
Following the Grant, a total of 3,192,538 common shares of the Company remain issuable under the Plan.
About NEXE Innovations Inc.
NEXE Innovations Inc. is a leader in innovative compostable materials technology based in British Columbia, Canada. The first product developed by NEXE Innovations is one of the only patented, fully-compostable, single-serve coffee pods for use in existing major single-serve coffee machines.
