Delta 9 Cannabis (TSXV:NINE) announced the granting of 3 million stock options to an undisclosed collection of directors, officers, employees and consultants of the company.
As quoted in the press release:
“Our overall business and number of employees has grown in leaps and bounds since we listed our shares publicly last fall,” said Delta 9 Chief Executive Officer John Arbuthnot. “We now have more than 120 full-time employees and continue to grow our workforce exponentially as we expand and look to execute on our business plan towards legalization of cannabis this fall.
Each Option is exercisable into one common share of the Company at a price of C$1.79 per share for a period of five years from the date of grant. The Options will vest over twenty-four months, with one quarter (750,000 Options) vesting every six months from the date of grant.