Glow Lifetech Grants Stock Options

Rhea-AI Summary

Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) has announced the granting of 3,650,000 stock options to various officers and consultants. The options are exercisable at $0.06 per common share for a five-year period under the Company's Omnibus Long-Term Incentive Plan. Of these options, 2,500,000 were granted to company insiders. All options and resulting common shares are subject to a four-month and one-day resale restriction from the grant date. The company utilized exemptions from MI 61-101 requirements regarding valuation and minority shareholder approval for the insider participation.

Positive

• None.

Negative

• Potential shareholder dilution through 3.65M stock options issuance
• 68.5% of options granted to insiders, indicating high insider compensation

Toronto, Ontario--(Newsfile Corp. - December 27, 2024) - Glow Lifetech Corp. (CSE: GLOW) (OTC Pink: GLWLF) (FSE: 9DO) ("Glow" or the "Company") is pleased to announce that it has granted 3,650,000 stock options (the "Options") to various officers and consultants of the Company. Each Option is exercisable at a price of $0.06 for one common share of the Company (each a "Common Share") for a period of five years from the date of grant and are being issued under the terms of the Company's Omnibus Long-Term Incentive Plan. The Options, and any Common Shares issued upon exercise of the Options, are subject to a four-month and one day resale restriction from the date of grant.

The aforementioned grant of Options resulted in certain insiders of the Company receiving an aggregate of 2,500,000 Stock Options. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), contained in section 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.

SUBSCRIBE: For more information on Glow or to subscribe to the Company's mail list visit: https://www.glowlifetech.com/news

About Glow Lifetech Corp

Glow Lifetech is a Canadian-based biotechnology company focused on producing nutraceutical and cannabinoid-based products with dramatically enhanced bioavailability, absorption and effectiveness. Glow has a groundbreaking, plant-based MyCell Technology® delivery system, which transforms poorly absorbed natural compounds into enhanced water-compatible concentrates that unlock the full healing potential of the valuable compounds.

Website: www.glowlifetech.com

Contact:
James Van Staveren
Glow Lifetech Corp.
TF. 855-442-GLOW (4569)
ir@glowlifetech.com

Forward-looking Information Cautionary Statement

Except for statements of historic 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. Forward-looking statements are based on the opinions and estimates 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 statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235305

FAQ

How many stock options did Glow Lifetech (GLWLF) grant in December 2024?

Glow Lifetech granted 3,650,000 stock options to officers and consultants in December 2024.

What is the exercise price of GLWLF's December 2024 stock options?

The stock options were granted at an exercise price of $0.06 per common share.

How long is the exercise period for GLWLF's December 2024 stock options?

The stock options have a five-year exercise period from the date of grant.

What is the lockup period for GLWLF's December 2024 stock options?

The options and any resulting common shares have a four-month and one-day resale restriction from the grant date.

How many stock options were granted to GLWLF insiders in December 2024?

Company insiders received 2,500,000 of the total 3,650,000 stock options granted.