February 8, 2019 17:43 ET
Novoheart Grants Stock Options and RSUs
VANCOUVER, British Columbia, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Novoheart Holdings Inc. (“Novoheart” or the “Company”) (TSXV: NVH; FWB: 3NH) announces that it has granted incentive stock options to purchase an aggregate of 420,613 common shares of the Company (the “Options”) and 2,355,000 restricted share units of the Company (“RSUs”) to directors, scientific founding members, and employees of the Company.
The Options have an exercise price of $0.32 per common share. The Options expire on December 6, 2023 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. The Option grants are subject to the acceptance of the TSX Venture Exchange.
The Company has granted an aggregate of 2,355,000 RSUs under the RSU plan which was approved by the disinterested shareholders of the Company at the annual meeting of shareholders held on February 23, 2018. 780,000 RSUs, 1,300,000 RSUs and 275,000 RSUs were granted on April 1, June 1, and December 6, 2018, respectively. The RSUs vest between June 30, 2019 and December 6, 2021. Each vested RSU entitles the holder to receive one common share of the Company. 364,000 of the RSUs were granted to Directors.
ABOUT NOVOHEART HOLDINGS INC.
Novoheart is a global stem cell biotechnology company dedicated to human heart engineering with offices and laboratories in the United States, Canada and Hong Kong. Novoheart’s scientific team has pioneered a range of bioengineering technologies collectively known as the MyHeartTM platform, including the world’s first human mini-heart “novoHeartTM” (otherwise known as a “human heart-in-a-jar”) that is fully capable of pumping and ejecting fluid. Novoheart believes that its proprietary platform uniquely positions the Company to enter into commercial partnerships with leading pharmaceuticals and research institutions to deliver pre-clinical cardiotoxicity screening and to develop custom-tailored engineered heart constructs for disease modeling and drug discovery. Novoheart also believes that the MyHeartTM platform is well-positioned for the potential development of cell-based cardiac regenerative therapies with superior safety and efficacy.
Common shares of Novoheart is traded on the TSX Venture Exchange under the symbol “NVH”.
For further information please contact:
Chief Executive Officer
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.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the Company’s future plans, its goals and expectations, and the potential applications its MyHeartTM platform are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the management discussion and analysis section of Novoheart Holdings Inc.’s interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.