California Nanotechnologies Announces Stock Options
Rhea-AI Summary
California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) has granted 1,300,000 incentive stock options to its employees, directors, and officers. The options were approved by the Board of Directors on July 25, 2024, with an exercise price of $0.83 CAD per share, matching the most recent closing price. These options will vest over three years and expire after five years, subject to TSX Venture Exchange requirements.
The grant includes specific allocations to key individuals: CEO Eric Eyerman received 375,000 options, Director Christopher Melnyk 320,000, Director Roger Dent 90,000, Director Sebastien Goulet 65,000, Director Enrique Lavernia 50,000, and Investor Relations Brandon Chow 25,000.
Positive
- Incentive alignment with 1,300,000 stock options granted to employees, directors, and officers
- Options exercise price set at current market value ($0.83 CAD), potentially indicating confidence in future growth
Negative
- Potential dilution of existing shareholders' equity due to the issuance of 1,300,000 new stock options
News Market Reaction
On the day this news was published, CANOF gained 13.54%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Los Angeles, California--(Newsfile Corp. - July 26, 2024) - California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) ("Cal Nano" or the "Company") has granted 1,300,000 incentive stock options to the employees, directors and officers of the Company. The options were granted pursuant to the Company's Stock Option Plan and received approval by Board of Directors Resolution on July 25, 2024. The options were granted at the exercise price of
The options granted include those in the table below:
| Name | Position | Options Granted |
| Eric Eyerman | CEO | 375,000 |
| Roger Dent | Director | 90,000 |
| Sebastien Goulet | Director | 65,000 |
| Enrique Lavernia | Director | 50,000 |
| Christopher Melnyk | Director | 320,000 |
| Brandon Chow | Investor Relations | 25,000 |
About California Nanotechnologies, Inc.
At Cal Nano, we envision a world in which our advanced technologies are used to help make the most innovative products on this planet and beyond. Global leaders trust us to help push the boundaries of applied material science by utilizing our unique technical expertise and vision. Headquartered in Greater Los Angeles, California, Cal Nano hosts advanced processing and testing capabilities for materials research and production needs. Customers range from Fortune 500 companies to startups with programs spanning aerospace, renewable energy, defense, and semiconductors.
For further information, please contact:
Eric Eyerman, CEO
T: (562)-991-5211
E: info@calnanocorp.com
W: www.calnanocorp.com
Panolia Investor Relations Inc.
Brandon Chow, Principal & Founder
T: +1 (647) 598-8815
brandon@panoliair.com
Reader Advisory
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. In particular, forward-looking information in this press release includes, but is not limited to the expected future performance of the Company. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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/217919
FAQ
How many stock options did California Nanotechnologies (CANOF) grant on July 25, 2024?
What is the exercise price for the stock options granted by California Nanotechnologies (CANOF)?
How many stock options were granted to California Nanotechnologies' (CANOF) CEO Eric Eyerman?
What are the vesting and expiration terms for the stock options granted by California Nanotechnologies (CANOF)?
