VALENS GROWORKS SETS INCENTIVE STOCK OPTIONS
Vancouver, B.C., February 17, 2017 – Valens GroWorks Corp. (CSE: VGW) (the “Company”) has granted incentive stock options to an incoming consultant of the Company’s wholly-owned subsidiary, Valens Agritech Ltd., to purchase up to 320,000 common shares of the Company at a price of $1.25 per common share.
The stock purchase options (“Options”) are exercisable on or before February 29, 2020 and vest in stages over the course of three years, with 20,000 Options to vest immediately and 20,000 Options to vest in each three-month period over three years. The remaining 80,000 Options may be vested at the discretion of the Board of Directors based upon the achievement of specific corporate objectives.
The stock options are being granted pursuant to the terms of the Company’s stock option plan and are subject to regulatory approval.
About Valens GroWorks Corp.
Valens GroWorks Corp is a Canadian Securities Exchange listed company with two proposed acquisitions in progress, proposes to provide management, consulting, testing and support services to domestic and international licensees, and seeks to capture a broad spectrum of medical marijuana users, as well as recreational users once legalized, in pursuit of its ambitious farm to pharma objectives.
The Company’s wholly-owned subsidiary, Valens Agritech Ltd. (“VAL”), is a post-inspection applicant awaiting the granting of a Controlled Drugs and Substances Dealer’s Licence for the cultivation and processing of marijuana. Based in the Okanagan Valley of British Columbia, VAL anticipates participation in clinical trial programs researching the efficacy of medical cannabis.
On behalf of the Board of Directors, VALENS GROWORKS CORP.
(signed) “Robert van Santen”
Chief Executive Officer
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