Mr. Thomas Smeenk reports
HEMOSTEMIX ANNOUNCES GRANT OF STOCK OPTIONS
Hemostemix Inc. granted, on Dec. 31, 2020, subject to regulatory approval, a total of 5,274,500 stock options to purchase common shares of Hemostemix to directors, officers, employees and consultants of Hemostemix. Of the options granted 3,887,100 vest immediately and 1,387,400 vest 50 per cent immediately and 50 per cent on Dec. 31, 2021. All options were granted with an exercise price of 70 cents per common share and have an expiry date of Dec. 31, 2025. After this option issuance, Hemostemix has 5,342,000 options issued and outstanding.
Of the 5,274,500 options granted, 2,914,400 options were issued to directors and officers of Hemostemix. Hemostemix relied on Section 5.5(b) of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions as the exemption from the formal valuation requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the options grant to the directors and officers of Hemostemix as no securities of Hemostemix are listed on a specified market as defined in MI 61-101. Hemostemix relied on Section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 and TSX Venture Exchange Policy 5.9 in respect of the options grant to the directors and officers of Hemostemix as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the options granted to the directors and officers of the company exceeded 25 per cent of Hemostemix's market capitalization. The compensation committee and board of directors of the company have approved the options grant and no materially contrary view nor abstention was expressed or made by any director in relation to the options grant. The material change report to be filed in relation to the options grant will not be not filed at least 21 days prior to the completion of the options grant as contemplated by MI 61-101. The company believes that this shorter period is reasonable and necessary in the circumstances as the completion of the options grant occurred shortly before the issuance of this news release and the filing of such material change report.
About Hemostemix Inc.
Hemostemix is a publicly traded autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum technology pioneer award, the company developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, angina, ischemic cardiomyopathy, dilated cardiomyopathy and other conditions of ischemia. ACP-01 has been used to treat over 300 patients, and it is the subject of a randomized, placebo-controlled, double-blind trial of its safety and efficacy in patients with advanced critical limb ischemia who have exhausted all other options to save their limb from amputation.
On Oct. 21, 2019, the company announced the results from its phase II CLI trial abstract presentation entitled "Autologous Stem Cell Treatment for CLI Patients with No Revascularization Options: An Update of the Hemostemix ACP-01 Trial With 4.5 Year Follow-up" which noted healing of ulcers and resolution of ischemic rest pain occurred in 83 per cent of patients, with outcomes maintained for up to 4.5 years.
The company owns 91 patents across five patent families titled: regulating stem cells, in vitro techniques for use with stem cells, production from blood of cells of neural lineage and automated cell therapy.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.