EastWest BioScience Inc.: EastWest Bioscience Announces Grant of Options and Debt Settlement
VANCOUVER, BC / ACCESSWIRE / February 5, 2021 / EastWest Bioscience (the Company or EastWest ) (TSXV:EAST) announces, subject to its stock option plan, the grant of 1,720,000 stock options to certain directors, officers, employees and consultants issued pursuant to the Company s stock option plan. The options vest over a 2 year period, are exercisable at a price of $0.05 per share and expire in February 2024. The shares issuable upon exercise of the options may not be traded for 4 months and one day from the date of grant.
The Company also announces the proposed issuance of approximately 7,000,000 common shares at a price of CDN $0.05 per common share to certain arm s length and non-arm s length individuals and service providers for settlement of a portion owing by the Company in respect of various services rendered, including but not limited to consulting, financial, accounting services
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