Delta 9 Announces Issuance of Stock Options – Markets Insider

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WINNIPEG, Sept. 12, 2018 /CNW/ – DELTA 9 CANNABIS INC. (TSXV: NINE) (“Delta 9” or the “Company”) announces that it granted today an aggregate of 3,000,000 stock options (the “Options”) to certain directors, officers, employees and consultants of the Company in accordance with the Company’s stock option plan.

“Our overall business and number of employees has grown in leaps and bounds since we listed our shares publicly last fall,” said Delta 9 Chief Executive Officer John Arbuthnot. “We now have more than 120 full-time employees and continue to grow our workforce exponentially as we expand and look to execute on our business plan towards legalization of cannabis this fall.

“Stock options are an effective compensation tool for us to align employee and shareholder interests, to attract top talent, and for incentive and retention purposes.”

Each Option is exercisable into one common share of the Company at a price of $1.79 per share for a period of five years from the date of grant. The Options will vest over twenty-four months, with one quarter (750,000 Options) vesting every six months from the date of grant.

About Delta 9 Cannabis Inc. 

Delta 9 Cannabis was the fourth producer in Canada licensed to produce legal cannabis. Delta 9 now operates its wholly-owned subsidiary, Delta 9 Bio-Tech Inc., as a licensed producer of medical marijuana pursuant to the ACMPR and operates an 80,000 square foot production facility in Winnipeg, Manitoba, Canada. Delta 9 also owns 50 per cent of the 70,000 square foot Delta West facility in Alberta, and co-owns the Delta West Lifestyles cannabis retail operation. Delta 9’s shares trade on the TSX Venture Exchange under the symbol “NINE”.

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 release.

SOURCE Delta 9 Cannabis Inc.