BioSyent Announces Adoption of Restricted Share Unit Plan
MISSISSAUGA, Ontario, March 06, 2020 (GLOBE NEWSWIRE) — BioSyent Inc. (“BioSyent” or the “Company”, TSX Venture: RX) announces that its Board of Directors has approved a Restricted Share Unit Plan (the “RSU Plan”).
The RSU Plan is established as a vehicle by which equity-based incentives may be granted to eligible employees, consultants, directors and officers of the Company. The fixed maximum number of the Company’s common shares (the “Common Shares”) which may be available for issuance upon settlement of the restricted share units (the “RSUs”) issued under the RSU Plan is 800,000 Common Shares. In accordance with the policies of the TSX Venture Exchange (the “Exchange”), the maximum number of Common Shares which may be reserved for issuance under the RSU Plan and the Company’s Stock Option Plan, in aggregate, cannot exceed 10% of the total number of the Company’s issued and outstanding Common Shares on a non-diluted basis. The RSU Plan remains subject to Exchange approval and requisite shareholder approvals in accordance with the policies of the Exchange.The Company further announces that its Board of Directors has passed a resolution amending the Company’s existing Stock Option Plan (the “Amended Option Plan”) pursuant to which, amongst other things, the maximum number of equity-based compensation units (including stock options and RSUs) that may be reserved for issuance under the Amended Option Plan and the RSU Plan shall not exceed 10% of the outstanding Common Shares on a non-diluted basis. The Amended Option Plan remains subject to Exchange approval and requisite shareholder approvals in accordance with the policies of the Exchange.The Company’s next annual general and special meeting of shareholders will be held on May 27, 2020. Further details regarding the RSU Plan and the Amended Option Plan will be included in the Company’s Management Information Circular which will be distributed to shareholders and filed on SEDAR in advance of the meeting.
About BioSyent Inc.Listed on the TSX Venture Exchange under the trading symbol “RX”, BioSyent is a profitable growth-oriented specialty pharmaceutical company focused on in-licensing or acquiring innovative pharmaceutical and other healthcare products that have been successfully developed, are safe and effective, and have a proven track record of improving the lives of patients. BioSyent supports the healthcare professionals that treat these patients by marketing its products through its community, hospital and international business units. As of the date of this press release, the Company has 13,408,745 common shares issued and outstanding.For a direct market quote for the TSX Venture Exchange and other Company financial information please visit www.tmxmoney.com.For further information please contact:
Mr. René C. Goehrum
President and CEO