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Torrent Capital Ltd. (TSXV: TORR) (the "Company") is pleased to announce that it has granted 455,000 incentive stock options under the Company's Stock Option Plan ("Option Plan"), of which 295,000 have been granted to Directors and Officers and 160,000 options to consultants.
Each option is exercisable into one common share at a price of $0.75 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. All other terms and conditions of the options are in accordance with the terms of the Company's Option Plan.
The Company has also issued 90,000 restricted share units ("RSU"), of which 70,000 have been issued to a Director and Officer and 20,000 RSUs to a consultant under the Company's Restricted Share Unit Plan ("RSU Plan"). Each RSU will vest after one year. All other terms and conditions of the RSUs are in accordance with the terms of the Company's RSU Plan.
About Torrent Capital
Torrent is a publicly traded Investment Issuer that actively manages a portfolio of public equities, cryptocurrencies and, private investments. The Company invests in companies that are due to experience accelerated growth or are trading at a discount to their intrinsic value. Torrent offers investors the potential to earn above market returns while providing transparency, daily liquidity and a modest fee profile compared to competing investment products.
For further information, please contact:
Contact:
Torrent Capital Ltd.
Rob Randall
Chief Financial Officer
(902) 442-7187
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. The reader is referred the Company's annual financial reporting for a discussion of risks and uncertainties.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241769
