TORONTO, Sept. 06, 2021 (GLOBE NEWSWIRE) -- Yooma Wellness Inc. ("Yooma") (CSE: YOOM, AQSE: YOOM), a Toronto-based vertically-integrated global wellness platform that develops and markets a portfolio of wellness brands, today announced that it has awarded options and deferred share units for an aggregate of 7,355,500 common shares of the company to certain directors, officers, employees and consultants under the Long Term Incentive Plan ("LTIP") approved by the shareholders of Yooma on January 25, 2021. The purpose of the grants is to properly incentivize key personnel and align their interests with those of the company.
Together with the 1,711,581 equity incentives previously outstanding, the total number of shares reserved for issuance under the LTIP is now 9,067,081 shares. The grants included 7,310,000 options with exercise prices of $0.90/Share, which will vest in equal monthly (or in the case of 385,000 options, yearly) increments over 3 years and expire 10 years from the date of grant. The grants also included 45,500 deferred share units that are fully vested as of the date of grant. All of the equity incentives, and their underlying shares, are subject to a 4 month hold period in accordance with the policies of the Canadian Securities Exchange and are subject to the terms and conditions of the LTIP.
About Yooma Wellness Inc.
Yooma's mission is to build a vertically-integrated global leader in the manufacturing, marketing, distribution, and sale of wellness products including hemp seed oil and hemp-derived and cannabinoid (CBD) ingredients. The company leverages strategically curated sales channels and ecommerce networks to deliver a diverse mix of wellness products through operating subsidiaries in the United States, United Kingdom, France and Japan. Learn more at www.yooma.ca.
Media Contact:
Jordan Greenberg
Email: jgreenberg@yooma.ca
Phone: 1-512-823-1678
Notice regarding Forward Looking Statements
All information included in this press release, including any information as to the future financial or operating performance and other statements that express management’s expectations or estimates of future performance, other than statements of historical fact, constitute forward-looking information or forward-looking statements (collectively, “forward-looking statements”) within the meaning of applicable securities laws and are based on current expectations, estimates and projections. Forward-looking statements are included for the purpose of providing information about management’s current expectations and plans relating to the future. Wherever possible, words such as “will”, or the negative of these words or other variations thereof, have been used to identify such forward-looking statements. Specific forward-looking statements include, without limitation, all disclosure regarding the vesting of the equity incentives issued under the LTIP.
There are many risks and uncertainties that may affect forward-looking statements including, among others, the risk of the departure of key personnel prior to the vesting of any equity incentives; the risk that key personnel will not accept equity incentives they have been awarded; the risk that equity incentives cannot be issued upon vesting due to legal, regulatory or other conditions; changes in laws, regulations and guidelines; compliance with laws; and other matters which are beyond the control of Yooma. Although the forward-looking statements reflect management's current beliefs and reasonable assumptions based on information currently available to management, Yooma cannot be certain that actual results will be consistent with its forward-looking statements. Yooma cautions you not to place undue reliance upon any forward-looking statements and 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 applicable law. Nothing herein should be construed as either an offer to sell or a solicitation to buy or sell securities of Yooma.
