December 3, 2018 – Halifax, Canada – Torrent Capital Ltd. (TSXV: TORR) (the “Company”) is pleased to announce that it has granted 200,000 incentive stock options under the Company’s Stock Option Plan (“Option Plan”) and 200,000 restricted share units under the Company’s Restricted Share Unit Plan (“RSU Plan”) to directors and officers.
Each option is exercisable into one common share at a price of $0.42 per share and will vest at the rate of 50% on each of the six and twelve month anniversary of the grant date. The options will expire five years from the date of grant. Each restricted share unit will vest immediately. All other terms and conditions of the options and restricted share units are in accordance with the terms of the Company’s Option and RSU Plans, respectively.
NEITHER THE 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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This press release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Torrent disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Torrent Capital Ltd.
Chief Financial Officer