01:18:52 EDT Mon 20 May 2024
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or Name
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Planting Hope Company Inc (The)
Symbol MYLK
Shares Issued 75,840,778
Close 2023-12-29 C$ 0.145
Market Cap C$ 10,996,913
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Planting Hope grants options to acquire 3.87M shares

2023-12-29 20:22 ET - News Release

Ms. Julia Stamberger reports

PLANTING HOPE GRANTS STOCK OPTIONS

The Planting Hope Company Inc. has awarded stock options to various employees, advisers and directors, and has closed the previously announced United States SEC Regulation D 506c private placement offering.

Stock option awards

The company's board of directors has authorized, pursuant to its omnibus equity incentive plan, the grant of incentive stock options to directors, employees and advisers to purchase an aggregate of up to 3,870,121 subordinate voting shares in the capital of the company at an exercise price of nine cents per SV share.

Of the options granted:

  • An aggregate of 900,000 options were granted to certain directors of the company for a five-year term and vest quarterly over three years;
  • An aggregate of 1,337,000 options were granted to advisers and contractors of the company for a five-year term. Of these options, 45,000 options vest immediately; 1,012,000 vest quarterly over three years; 100,000 vest 50 per cent immediately, 25 per cent on Feb. 1, 2024, and 25 per cent on March 1, 2024; 150,000 vest 20 per cent immediately and the balance vest annually over four years; and 30,000 vest one-third on each of May 1, 2024, and annually thereafter for two years;
  • An aggregate of 1,633,121 options were granted to employees of the company for a five-year term. The vesting schedule for employee options are tied to both temporal vesting and business milestone achievements in 2024 and 2025.

End of U.S. SEC Regulation D 506c private placement offering

Planting Hope has ended the U.S. SEC Regulation D 506c private placement offering initially announced on Oct. 7, 2023.

About The Planting Hope Company Inc.

Planting Hope is reimagining and reinventing food today so that the planet can feed 10 billion people tomorrow. A foodtech-driven company at the forefront of sustainable consumer food and beverage evolution, Planting Hope transforms nutrient-dense, widely cultivated crops into innovative, nutrient-rich products that reimagine pantry staples in the largest, fastest-growing global food categories.

Its award-winning breakthrough brands, including Hope and Sesame sesamemilk, RightRice high-protein veggie rice, and Mozaics real veggie chips, are not only disrupting global markets but also significantly reducing environmental footprints. Available across the United States and Canada in grocery retailers (Whole Foods Market and Sprouts Farmers Markets) through foodservice operators (Cava Mediterranean restaurants), and e-commerce and alternative retail channels (Amazon and QVC), its products blend culinary innovation with advanced technology, offering breakthrough products with wide moats. Its products are poised to disrupt global food and beverage categories, make a positive impact on the world, and provide investors with valuable opportunities in the growing sustainable food market.

We seek Safe Harbor.

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