TORONTO, Dec. 24, 2018 (GLOBE NEWSWIRE) — Lineage Grow Company Ltd. (the “Company” or “Lineage”) (CSE:BUDD) announced it had granted 3,000,000 incentive stock options to certain eligible persons of the Company on December 6, 2018. Each stock option has an exercise price of $0.165 and is exercisable into one common share of the Company. The options vested immediately and are exercisable over a period of five years. The stock options were granted subject to the terms and conditions of the Company’s Stock Option Plan.
On December 6, 2018, the board of directors authorized and approved two bonuses. One bonus was for a total of $100,000 to Peter Bilodeau, the Chief Executive Officer subject to certain milestones being met and the bonus amount applied to the exercise of options held by the CEO. The other bonus was for $10,000 to Keith Li, Chief Financial Officer of the Company. The bonuses were awarded for these officers’ work in the acquisition of Terpene Station assets, in the proposed acquisitions for Walnut Oaks LLC d/b/a Agris Farms and Lucrum Enterprises, Inc. c/b/a LUX and their work in the proposed reverse-take over transaction with FLRish, Inc. d/b/a Harborside (the “Harborside RTO”).
The Company also announced the Company had cancelled the Company’s special meeting of shareholders that was previously scheduled for December 27, 2018 to approve the Harborside RTO and related matters. The Company will reschedule the special meeting early in the new year.