TORONTO, ONTARIO, September 1, 2020 – NeuPath Health Inc. (TSXV:NPTH) (“NeuPath” or the “Company”), Canada’s largest provider of chronic pain management services, announced today a grant of 461,080 stock options (“Options”) to directors, officers and certain employees of the Corporation at an exercise price of $0.87 per share, with an expiry date of September 1, 2027. The Options are subject to time-based vesting. Options granted to directors will fully vest on September 1, 2021. Options granted to officers and certain employees of the Corporation will vest annually in equal instalments on each anniversary date from the date of grant for 4 years and the Options will expire 7 years from the grant date. The terms of the Options granted on September 1, 2020 are in accordance with the Company’s Amended and Restated Stock Option Plan.
In addition, the Corporation granted 198,175 restricted share units (“RSUs”) to directors and officers, with an expiry date of September 1, 2024. All RSUs are subject to time-based vesting. RSUs granted to directors will fully vest on September 1, 2021. One quarter of the RSUs granted to officers will vest annually on each of the first, second, third and fourth anniversaries from the date of grant. The terms of the RSUs granted on September 1, 2020 are in accordance with the Company’s Restricted Share Unit Plan.
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