Toronto, Ontario--(Newsfile Corp. - February 19, 2026) - Kleen HY-DRO-GEN Inc. (CSE: KLN) (formerly 0755461 B.C. Ltd.) (the "Company") announces that it has amended its rolling stock option plan (the "Plan") to increase the maximum aggregate number of Class A Voting Shares ("Class A Shares") and Class B Non-voting Shares ("Class B Shares") issuable thereunder from 10% to 20% of the aggregate number of the Company's issued and outstanding Class A Shares and Class B Shares, as determined on a rolling basis at the time of grant. The amendment was approved pursuant to a written resolution of the holder of the Company's Class A Shares and corrects an administrative oversight whereby an earlier version of the Plan was approved which previously only provided for the 10% limit.
The Company believes that the increased rolling limit will provide additional flexibility in attracting, retaining and incentivizing directors, officers, employees and consultants, while aligning their interests with those of shareholders.
The Plan was further amended to reflect the minimum pricing thresholds set out in section 6.5(3) of Canadian Securities Exchange Policy 6, which requires that the exercise price of any option grant be no less than the greater of $0.05 and the closing market price on both the trading day prior to, and the date of, the grant of such option.
In connection with the amended Plan, the Company has granted 600,000 stock options to purchase 600,000 Class B Shares to certain consultants, exercisable at $0.50 per Class B Share and expiring two years from the date of grant, in accordance with the Plan and the applicable option agreements.
The Company also announces that the holder of the Class A Shares has approved the ratification of certain previously issued stock options outstanding as of the date of approval, as a one-time approval, notwithstanding that a portion of such options exceeded the Plan's former 10% rolling limit. This ratification relates solely to options outstanding prior to the Plan amendment and does not constitute a further amendment to the Plan.
This press release does not constitute an offer of securities for sale in the United States. The securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Cautionary Note Regarding Forward-Looking Information
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the Company's plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management of the Company's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time. This forward-looking information may be affected by risks and uncertainties in the business of the Company and market conditions.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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