COMPANY UPDATES
30
Nov
2019
Novoheart Announces Change of Fiscal Year-End and Grants Stock Options

Novoheart Holdings Inc. announced that it is changing its fiscal year-end to December 31, from its current fiscal year-end of June 30. The notice for the year-end change required under National Instrument 51-102 – Continuous Disclosure Obligations has been filed under the Company's profile at www.sedar.com.

Novoheart believes this change of year-end will better align the Company's financial reporting with industry peer groups in the biotech sector, which will allow investors to more easily compare quarterly and annual financial results.

 

Option Grants

The Company has granted incentive stock options to purchase an aggregate of 1,707,000 common shares of the Company (the “Options”) to directors and employees of the Company.

The Options have an exercise price of $0.39 per common share.  The Options expire on November 29, 2024 and vest 40% on the first anniversary of the grant date and 30% on each of the second and third anniversaries of the grant date. 806,200 of the Options were granted to Directors.

The Option grants are subject to the acceptance of the TSX Venture Exchange.


For more detailed press release, please press here.

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