Microbix Announces Issuance of Stock Options

Rhea-AI Summary

Microbix (TSX:MBX / OTCQX:MBXBF) announced the issuance of 2,600,000 stock options under its shareholder-approved Stock Option Plan on February 24, 2026. Options are exercisable at $0.23 per share, vest after three years, and expire after five years; grants are subject to TSX approval.

The awards span 37 senior employees and directors, with a quarterly expense estimate of $24,000 (≈2% of total compensation). Potential dilution is stated as up to 2% of issued shares, partly offset by ~600,000 shares repurchased under a normal-course issuer bid started December 2025.

News Market Reaction – MBXBF

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+12.25% News Effect

On the day this news was published, MBXBF gained 12.25%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Using Shareholder-Approved Plan to Incentivize and Retain

MISSISSAUGA, ON / ACCESS Newswire / February 24, 2026 / Microbix Biosystems Inc. (TSX:MBX)(OTCQX:MBXBF) (Microbix®), a life sciences innovator, manufacturer, and exporter, announces the issuance of stock options under its shareholder-approved stock option plan (the "Stock Option Plan"), as part of its compensation programs to incentivize and retain its board of directors, executives, and managers.

Details of the Option Issuance

In consultation with management, Microbix's Board of Directors has approved the issuance of 2,600,000 options in accordance with the terms of the Stock Option Plan. The approved options are exercisable at a price of $0.23 per share, as determined by the closing price of the TSX on 20 February, 2026. Each option will vest and be exercisable after three (3) years and have a total life of five (5) years. The stock option grants form part of the total remuneration package for the recipients and are subject to TSX approval.

Management Discussion

Microbix management believes that stock options are an important tool to incentivize and retain senior personnel, particularly for smaller, publicly-listed companies. In February 2019, Microbix announced its intention to broadly use its stock option plan once per year - following the issuance of its Q1 results.

The options now issued are being allocated across 37 individuals that comprise the more senior tiers of Microbix's approximately 120 employees, inclusive of its six independent directors. The quarterly expense incurred as a result of this option award is estimated to be $24,000, and will represent approximately 2% of total company compensation costs. The potentially dilutive impact of this option issuance may be up to 2% of the issued and outstanding shares of Microbix, largely or entirely offset by normal-course issuer bid ("NCIB") share repurchases that have totaled approximately 600,000 shares since the initiation of the most recent NCIB in December 2025.

About the Microbix Stock Option Plan

Details of the Stock Option Plan are available on Microbix's website (https://microbix.com), via SEDAR+ (www.sedarplus.ca), and are provided as an appendix to the current Management Information Circular. The Stock Option Plan is a "rolling" plan that permits issuance of options representing up to 10% of Microbix's issued and outstanding common shares. Prior to the current issuance, a total of 11,230,000 options were issued and are outstanding, with an average exercise price of $0.46 and average remaining life of 2.63 years. Following the current issuance, a total of 13,830,000 options will be outstanding. The plan is administered under the supervision of the Board of Microbix or the human resources, compensation and governance committee of the Board.

About Microbix Biosystems Inc.

Microbix Biosystems Inc. creates proprietary biological products for human health, with over 120 skilled employees and revenues of C$ 18.6 million in its latest fiscal year (2025). It makes a wide range of critical ingredients and devices for the global diagnostics industry, notably antigens for immunoassays and its laboratory quality assessment products (QAPs™) and reference materials (QUANTDx™) that support clinical lab proficiency testing, enable assay development and validation, or help ensure the quality of clinical diagnostic workflows. Its antigens drive the antibody tests of approximately 100 diagnostics makers, while QAPs or QUANTDx are sold to clinical lab accreditation organizations, diagnostics companies, and clinical labs. Microbix QAPs are now available in over 30 countries, supported by a network of international distributors. Microbix is ISO 9001 & 13485 accredited, U.S. FDA registered, Australian TGA registered, Health Canada establishment licensed, and provides IVDR-compliant CE marked products.

Microbix also applies its biological expertise and infrastructure to develop other proprietary products and technologies, most notably Kinlytic® urokinase, a biologic thrombolytic drug used to treat blood clots, and reagents or medial to support diagnostic testing (e.g., its DxTM™ for patient-sample collection). Microbix is traded on the TSX and OTCQX, and headquartered in Mississauga, Ontario, Canada.

Forward-Looking Information

This news release includes "forward-looking information," as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, discussion of the Stock Option Plan, the NCIB or opinions relating to usage of the plan, financial results or the outlook for the business, risks associated with its financial results and stability, its development projects, access to and sales to foreign jurisdictions, engineering and construction, production (including control over costs, quality, quantity and timeliness of delivery), foreign currency and exchange rates, maintaining adequate working capital and raising further capital on acceptable terms or at all, and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and represent the Company's judgement as of the date of this new release, and the Company is under no obligation to update or alter any forward-looking information.

Please visit www.microbix.com or www.sedarplus.ca for recent Microbix filings.
For further information, please contact Microbix at:

Cameron Groome, CEO (905) 361-8910

Jim Currie, CFO (905) 361-8910

Deborah Honig, Investor Relations Adelaide Capital Markets (647) 203-8793 ir@microbix.com

Copyright © 2026 Microbix Biosystems Inc.

Microbix®, DxTM™, Kinlytic®, QAPs™, and QUANTDx™ are trademarks of Microbix Biosystems Inc.

SOURCE: Microbix Biosystems Inc.

View the original press release on ACCESS Newswire

FAQ

How many options did Microbix (MBXBF) issue on February 24, 2026?

Microbix issued 2,600,000 options on February 24, 2026. According to the company, the options are exercisable at $0.23 per share and are subject to TSX approval.

What are the exercise price and vesting terms for Microbix (MBXBF) stock options?

The options have an exercise price of $0.23 and vest after three years. According to the company, each option has a total life of five years from grant.

Who will receive the Microbix (MBXBF) stock options and how many people are affected?

The grants are allocated across 37 senior individuals, including executives and independent directors. According to the company, recipients are drawn from its ~120 employees.

What is the estimated quarterly expense and compensation impact of the Microbix (MBXBF) option award?

The quarterly expense is estimated at $24,000, representing about 2% of total company compensation costs. According to the company, this reflects accounting expense, not cash outflow.

How much dilution could Microbix (MBXBF) options cause and are buybacks offsetting it?

Potential dilution is stated as up to 2% of issued and outstanding shares. According to the company, ~600,000 shares have been repurchased under an NCIB started in December 2025.