MustGrow Announces Grant of RSUs and DSUs
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) has announced the grant of 1,575,398 deferred share units (DSUs) and restricted share units (RSUs) to certain directors, officers, and consultants, effective September 3, 2024. This grant is made under the company's Omnibus Equity Incentive Plan. The DSUs will vest when the holder ceases to be a director, officer, or employee of MustGrow or its affiliates. Upon settlement, each DSU will entitle the holder to receive one common share in the company's capital or an equivalent cash payment, at MustGrow's discretion.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha annunciato l'assegnazione di 1.575.398 unit脿 di azioni differite (DSUs) e unit脿 di azioni vincolate (RSUs) a determinati dirigenti, funzionari e consulenti, con effetto dal 3 settembre 2024. Questa assegnazione 猫 effettuata nell'ambito del Piano di Incentivazione Azionaria Omnibus della societ脿. Le DSUs matureranno quando il titolare cesser脿 di essere un direttore, un funzionario o un dipendente di MustGrow o delle sue affiliate. Al momento della liquidazione, ogni DSU dar脿 diritto al titolare di ricevere una azione ordinaria del capitale della societ脿 o un pagamento in contante equivalente, a discrezione di MustGrow.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) ha anunciado la concesi贸n de 1,575,398 unidades de acciones diferidas (DSUs) y unidades de acciones restringidas (RSUs) a ciertos directores, funcionarios y consultores, con efecto a partir del 3 de septiembre de 2024. Esta concesi贸n se realiza bajo el Plan de Incentivos de Capital Omnibus de la compa帽铆a. Las DSUs se consolidar谩n cuando el titular deje de ser director, funcionario o empleado de MustGrow o de sus afiliados. Al momento de liquidaci贸n, cada DSU dar谩 derecho al titular a recibir una acci贸n com煤n del capital de la compa帽铆a o un pago en efectivo equivalente, a discreci贸n de MustGrow.
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MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) a annonc茅 l'attribution de 1 575 398 unit茅s d'actions diff茅r茅es (DSUs) et d'unit茅s d'actions restreintes (RSUs) 脿 certains directeurs, dirigeants et consultants, 脿 compter du 3 septembre 2024. Cette attribution est effectu茅e dans le cadre du Plan d'Incentive en Capitaux Omnibus de la soci茅t茅. Les DSUs seront acquises lorsque le titulaire cessera d'锚tre directeur, dirigeant ou employ茅 de MustGrow ou de ses filiales. Lors de la liquidation, chaque DSU donnera droit au titulaire de recevoir une action ordinaire du capital de la soci茅t茅 ou un paiement en esp猫ces 茅quivalent, selon le choix de MustGrow.
MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) hat die Vergabe von 1.575.398 aufgeschobenen Aktieneinheiten (DSUs) und beschr盲nkten Aktieneinheiten (RSUs) an bestimmte Direktoren, F眉hrungskr盲fte und Berater zum 3. September 2024 bekannt gegeben. Diese Vergabe erfolgt im Rahmen des Omnibus-Aktienoptionsplans des Unternehmens. Die DSUs werden f盲llig, wenn der Inhaber nicht mehr Direktor, F眉hrungskraft oder Mitarbeiter von MustGrow oder dessen Tochtergesellschaften ist. Bei der Abwicklung hat jede DSU dem Inhaber das Recht zu geben, eine Stammaktie des Unternehmenskapitals oder eine gleichwertige Barzahlung nach Wahl von MustGrow zu erhalten.
- Implementation of equity incentive plan to align interests of directors, officers, and consultants with shareholders
- Potential to retain key personnel through long-term incentives
- Potential dilution of existing shareholders' equity
- Future cash outflow if the company chooses cash settlement for DSUs
Saskatoon, Saskatchewan--(Newsfile Corp. - September 4, 2024) - MustGrow Biologics Corp. (TSXV: MGRO) (OTCQB: MGROF) (FSE: 0C0) (the "Company" or "MustGrow") today announced that the board of directors of the Company authorized and approved the grant of a total of 1,575,398 deferred share units ("DSUs") and restricted share units ("RSUs") to certain directors, officers, and consultants of the Company, effective September 3, 2024. This grants of DSUs and RSUs are made pursuant to the Company's Omnibus Equity Incentive Plan (the "Plan").
The DSUs will vest when the holder ceases to be a director, officer or employee of the Company or any of its affiliates, as applicable. On settlement, each DSU will entitle the holder to recive to receive one common share in the capital of the Company or a cash payment equivalent thereof at the discretion of the Company.
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About MustGrow
MustGrow is an agriculture biotech company developing organic biocontrol and biofertility products by harnessing the natural defense mechanism and organic materials of the mustard plant to sustainably protect the global food supply and help farmers feed the world. MustGrow and its leading global partners -- Bayer, Janssen PMP (pharmaceutical division of Johnson & Johnson), Sumitomo Corporation, and Univar Solutions' NexusBioAg -- are developing mustard-based organic solutions for applications in biocontrol to potentially replace harmful synthetic chemicals in preplant soil treatment and weed control, to postharvest disease control and food preservation. Bayer has a commercial agreement to develop and commercialize MustGrow's biocontrol soil applications in Europe, Africa, and the Middle East. Concurrently, with new formulations derived from food-grade mustard, the Company is pursuing the adoption and use of its Organic Materials Review Institute (OMRI Listed®) and California's Organic Input Material (OIM) Program registered biofertility product, TerraSanteTM, in key U.S. states including California. Over 150 independent tests have been completed, validating MustGrow's safe and effective approach to crop and food protection and yield enhancements. Pending regulatory approval, MustGrow's patented liquid technologies could be applied through injection, standard drip or spray equipment, improving functionality and performance features. MustGrow has approximately 51.6 million basic common shares issued and outstanding and 55.7 million shares fully diluted. For further details, please visit .
Contact Information
Corey Giasson
Director & CEO
Phone: +1-306-668-2652
info@mustgrow.ca
This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
Neither the TSXV, nor their Regulation Services Provider (as that term is defined in the policies of the TSXV), nor the OTC Markets has approved the contents of this release or accepts responsibility for the adequacy or accuracy of this release.
© 2024 MustGrow Biologics Corp. All rights reserved.
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FAQ
How many DSUs and RSUs did MustGrow Biologics (MGROF) grant on September 3, 2024?
When do the DSUs granted by MustGrow Biologics (MGROF) vest?
What options does MustGrow Biologics (MGROF) have for settling the DSUs?
Under which plan were the DSUs and RSUs granted by MustGrow Biologics (MGROF)?
