WELL Health Technologies Corp. Announces RSU, PSU and Stock Option Grants
VANCOUVER, B.C. – January 22, 2019 – WELL Heath Technologies Corp. (TSX.V: WELL) (the “Company” or “WELL”), the owner and operator of Primary Healthcare facilities and Electronic Medical Record service provider in Canada, is pleased to announce it has granted an aggregate of 2,776,000 restricted share units (each, a “RSU”) to certain key employees, consultants, officers and a director of the Company pursuant to the Company’s Long-Term Performance Incentive Plan (the “LTIP”). Each RSU represents the right to receive, once vested, one common share in the capital of the Company.
The RSU’s vest as follows:
- 1,376,000 RSUs: 33% vest one year from the start date of the holder’s employment or consulting relationship with the Company (the “Start Date”); 33% vest two years from the Start Date; and 34% vest three years from the Start Date
- 70,000 RSUs: 33% vest on June 06, 2019; 33% vest on June 06, 2020; and 34% vest on June 06, 2021,
- 100,000 RSUs: 33% vest on January 22, 2020; 33% vest on January 22, 2021; and 34% vest on January 22, 2022,
- 650,000 RSU’s: all vest on May 23, 2019,
- 200,000 RSU’s: all vest on April 1, 2019,
- 200,000 RSU’s: all vest on January 14, 2020, and
- 180,000 RSU’s: all vest in equal quarterly amounts of 25% per quarter for a period of one year from the Start Date of January 22, 2019.
The Company also announces it has granted an aggregate of 450,000 performance share units (each, a “PSU”) to consultants pursuant to the LTIP. Each PSU represents the right to receive, once vested and performance criteria are met, one common share in the capital of the Company. The PSUs vest in quarterly amounts of 8.33% per quarter from January 22, 2019 for three years.
The Company also announces it has granted 765,000 stock options to certain employees and consultants and an officer pursuant to its Stock Option Plan at an exercise price of $0.43 per common share. Each option granted to the optionee is exercisable for a period of 5 years. Other than 300,000 stock options which vest on the date of grant, the stock options vest as follows: (a) 25% one year following the date of grant, and (b) 75% vest over a three-year period in equal quarterly amounts of 6.25% per quarter.
Securities issued to directors and officers of the Company will be subject to an Exchange Hold Period (as defined by the policies of the TSX Venture Exchange) of four months and one day following the original issuance of such securities.
WELL HEALTH TECHOLOGIES CORP.
Per: “Hamed Shahbazi”
Chief Executive Officer, Chairman and Director
For further information:
WELL Health Technologies Corp.
Chief Executive Officer, Chairman
Neither 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.