TORONTO, Oct. 15, 2018 /CNW/ - Delivra Corp. (TSXV: DVA - "Delivra" or the "Company"), a scientific and biotechnology company, today announced that it has issued an aggregate of 550,000 incentive stock options (the "Options") each exercisable into one common share in the capital of the Company, to eligible participants under the Company's incentive stock option plan (the "Plan"). The Options are exercisable at $0.36 per share for a period of five years from the date of grant, expiring on October 15, 2023. Of the Options granted, 500,000 vest immediately and 50,000 vest 50% on the first anniversary of the grant date and 50% on the second anniversary of the grant date. The options have been granted under and are governed by the terms of the Plan.
The Company also makes reference to the 700,000 share purchase warrants, exerciseable between $0.60 and $0.61 per share, expiring on October 31, 2018. Pursuant to the terms of the warrants, the warrant expiry date has been postponed until the third business day following the lifting of the "blackout period" that will be in effect on October 31, 2018 in connection with the release of the Company's September 30th, 2018 financial results.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company having a proprietary transdermal delivery system platform that can shuttle pharmaceutical and natural molecules through the skin, in a targeted manner. Delivra manufactures and sells a growing line of natural topical creams with the proprietary transdermal delivery system platform under the LivReliefTM brand, for conditions such as joint and muscle pain, nerve pain, varicose veins, wound healing, and under the LivSportTM brand for sports performance. LivReliefTM products are available in pharmacies, grocery chains, and independent health food stores across Canada, including, but not limited to, Shoppers Drug Mart, Walmart, Loblaw, Rexall, Pharmasave, London Drugs, and on-line at www.livrelief.com. In parallel with its consumer products business, Delivra also has a mandate to license its patent-pending, proprietary transdermal delivery technology platform to pharmaceutical companies globally, for the repurposing of pharmaceutical molecules transdermally to treat a broad range of conditions, along with licensing its over-the-counter products globally. Delivra is headquartered in Hamilton, Ontario and has a research and development laboratory in Charlottetown, Prince Edward Island.
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SOURCE Delivra Corp
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