Mr. Scott Dowty reports
AUSTRALIS CAPITAL ANNOUNCES AMENDMENTS TO EQUITY COMPENSATION PLANS
Australis Capital Inc. has adopted amendments to the company's stock option plan and restricted share unit plan. Under the amended plans, the company may grant stock options and restricted share units that, in aggregate, do not exceed a maximum of 15 per cent of the issued and outstanding common shares of the company.
Australis also announces that the company has granted an aggregate of 6,942,000 stock options and 1,735,000 restricted stock units (RSUs) to directors, officers, employees and consultants of the company. Twenty per cent of these stock options and RSUs were issued to a new director and three new employees, who recently joined the company. The stock options have an exercise price of 98 cents and expire five years from the date of grant, and the stock options and the RSUs vest over a three-year period, with one-third of such stock options vesting each year following the date of grant, consistent with earlier awards. Including the current grant, the company has issued approximately 13.4 per cent of its currently issued and outstanding common shares in options and RSUs.
About Australis Capital Inc.
A spinout of Aurora Cannabis in September, 2018, Australis identifies and invests in the cannabis industry predominantly in the United States, a highly regulated, fragmented, rapidly expanding and evolving industry. Investments may include, but are not limited to: equity, debt or other securities of both public and private companies, financings in exchange for royalties or other distribution streams, and control stake acquisitions. Australis adheres to stringent investment criteria and focuses on significant near- and midterm high-quality opportunities with strong return potentials while maintaining a steadfast commitment to governance and community. Australis's board and management team have material experience with, and knowledge of, the cannabis space in the United States, extensive backgrounds in highly regulated industries, adherence to stringent regulatory compliance, public company, and operational expertise.
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