Cleantek Industries Inc. Announces Stock Option Grants

Rhea-AI Summary

Cleantek Industries Inc. (TSXV: CTEK), a clean technology solutions provider specializing in wastewater management and industrial lighting, has announced the approval of stock option grants by its board of directors. The company has granted 780,000 incentive stock options to directors and officers at an exercise price of $0.28 per share, effective April 10, 2025.

The options, granted under the company's rolling 10% omnibus equity incentive plan, will vest in three equal tranches: 1/3 vesting on April 10, 2026 (expiring 2028), 1/3 on April 10, 2027 (expiring 2029), and 1/3 on April 10, 2028 (expiring 2030). The exercise price corresponds to CTEK's closing share price on the TSX Venture Exchange on April 10, 2025.

Calgary, Alberta--(Newsfile Corp. - April 14, 2025) - Cleantek Industries Inc. (TSXV: CTEK) ("Cleantek" or the "Company") an innovative provider of patented clean technology solutions that reduce both cost and carbon intensity in the wastewater management and industrial lighting sectors, announced that, effective April 10, 2025, its board of directors has approved the grant of incentive stock options (the "Options") to certain directors and officers to acquire an aggregate of 780,000 common shares in the capital of the Company at an exercise price of $0.28, being the closing price of the Company's common shares on the TSX Venture Exchange ("TSXV") on April 10, 2025. All Options were granted pursuant to the Company's rolling 10% omnibus equity incentive plan (the "Plan") and are subject to the terms of the Plan, the applicable grant agreements and the requirements of the TSXV.

The Options will vest and expire as follows: (i) 1/3 will vest on April 10, 2026 and expire April 10, 2028; (ii) 1/3 will vest on April 10, 2027 and expire April 10, 2029; and (iii) 1/3 will vest on April 10, 2028 and expire April 10, 2030.

For Further Information:

Riley Taggart, President & Chief Executive Officer
E-mail: rtaggart@cleantekinc.com
Tel: 403-567-8700
www.cleantekinc.com
LinkedIn
X

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248414

FAQ

How many stock options did Cleantek Industries (TSXV: CTEK) grant in April 2025?

Cleantek Industries granted 780,000 stock options to directors and officers at an exercise price of $0.28 per share.

What is the vesting schedule for Cleantek's April 2025 stock options?

The options vest in three equal tranches: 1/3 on April 10, 2026, 1/3 on April 10, 2027, and 1/3 on April 10, 2028.

What is the exercise price for Cleantek's April 2025 stock options?

The exercise price is $0.28 per share, matching CTEK's closing price on the TSX Venture Exchange on April 10, 2025.

When do Cleantek's April 2025 stock options expire?

The options expire in three tranches: April 10, 2028, April 10, 2029, and April 10, 2030, respectively.