Cannasat Therapeutics Inc. Grant of Options and Share Issuance
Canada Newswire, December 8, 2021
Toronto, Ontario – Cannasat Therapeutics Inc. (the "Corporation") (TSXV: CTH), the developer of novel cannabinoid-based pharmaceutical products, announced today that it has granted options to acquire 891,240 shares in the capital of the Corporation effective December 4, 2006. The options were granted to certain key consultants and directors at an exercise price of $0.30 per share for a term of four years. Included in the grant are options to acquire 150,000 shares to Peter Palframan, a director and head of the firm’s audit committee, as well as options to acquire 100,000 shares to Dr. Alan Ryley, also a director.
In addition, the Corporation agreed to settle an account with a third party supplier by issuing 123,675 common shares at a deemed price of $0.28 per share. The issuance of these shares was provided for in the Information Circular of the Corporation dated January 18, 2022 which was filed in connection with the Corporation's qualifying transaction and is subject to approval of the TSX Venture Exchange Inc.
About Cannasat Therapeutics
Cannasat Therapeutics is researching the therapeutic benefits of cannabis and developing new cannabinoid pharmaceutical products. Cannasat is pursuing two complementary business strategies. The first consists of the development of novel cannabinoid-based pharmaceutical products through the application of proprietary drug delivery technologies to be introduced to the market through the traditional regulatory drug approval process. The second is to promote medicinal cannabis research and education with Cannasat's business partner, Prairie Plant Systems Inc., the only government licensed grower and distributor of medicinal cannabis in Canada.
Contact Information
Cannasat Therapeutics Inc.
Andrew Williams
Vice President, Operations
W: (416) 703-2449 (Ext. 253)
F: (416) 703-8752
[email protected]
www.cannasat.com
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
