Medexus Announces Annual Equity Incentive Grants to Non-Executive Directors
December 21 2020 - 5:30PM
Medexus Pharmaceuticals Inc. (the “
Company” or
“Medexus”) (TSXV: MDP) (OTCQX: MEDXF) (Frankfurt:
P731)
announced today that the board of
directors of the Company (the “
Board”) has
formally granted (the “
Annual Grants”) restricted
share units (“
RSUs”) and stock options
(“
Options”) to the Company’s non-executive
directors pursuant to the Company’s previously-approved annual
director compensation framework. The Annual Grants were approved by
the Board in November 2020 on the recommendation of the
Compensation, Corporate Governance and Nominating Committee of the
Board as part of the Company’s overall director compensation
program.
An aggregate of 25,200 RSUs and 50,400 Options
were granted to the Company’s five non-executive directors with an
effective date of December 19, 2020 and 100% of the RSUs and
Options will vest on the date of the Company’s next annual general
meeting of shareholders, which is expected to be held in September
2021. Each vested RSU entitles the applicable holder to receive one
common share of the Company at a price of $0.01 per common share.
The Options were issued with an exercise price of $6.60, being the
closing price of the Company’s common shares on the TSX Venture
Exchange on December 18, 2020 and have a term of ten (10) years.
The RSUs and Options are each exercisable by delivering an exercise
notice to the Company in accordance with the Company’s 2018 omnibus
equity incentive plan and the terms of the applicable award
agreement.
About Medexus Pharmaceuticals
Inc.
Medexus is a leading specialty pharmaceutical
company with a strong North American commercial platform. The
Company’s vision is to provide the best healthcare products to
healthcare professionals and patients, through our core values of
Quality, Innovation, Customer Service and Teamwork. Medexus is
focused on the therapeutic areas of auto-immune disease,
hematology, and allergy. The Company’s leading products are:
Rasuvo™ and Metoject®, a unique formulation of methotrexate
(auto-pen and pre-filled syringe) designed to treat rheumatoid
arthritis and other auto-immune diseases; IXINITY®, an intravenous
recombinant factor IX therapeutic for use in patients 12 years of
age or older with Hemophilia B – a hereditary bleeding disorder
characterized by a deficiency of clotting factor IX in the blood,
which is necessary to control bleeding; and Rupall®, an innovative
allergy medication with a unique mode of action.
For more information, please
contact:
Ken d’Entremont, Chief Executive OfficerMedexus Pharmaceuticals
Inc.Tel.: 905-676-0003E-mail: ken.dentremont@medexus.com
Roland Boivin, Chief Financial OfficerMedexus Pharmaceuticals
Inc.Tel.: 514-762-2626 ext.
202E-mail: roland.boivin@medexus.com
Investor Relations (U.S.):Crescendo Communications, LLCTel:
+1-212-671-1020Email: mdp@crescendo-ir.com
Investor Relations (Canada):Tina ByersAdelaide Capital Tel:
905-330-3275E-mail: tina@adcap.ca
Neither the 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.
READER ADVISORIES
Forward Looking Statements
Certain statements made in this press release
contain forward-looking information within the meaning of
applicable securities laws (“forward-looking statements”). The
words “anticipates”, “believes”, “expects”, “will”, “plans” and
similar expressions are often intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Specific forward-looking statements
contained in this news release include, but are not limited to,
statements with respect to the timing of the Company’s next annual
general meeting of shareholders. These statements are based on
factors or assumptions that were applied in drawing a conclusion or
making a forecast or projection, including assumptions based on
historical trends, current conditions and expected future
developments. Since forward-looking statements relate to future
events and conditions, by their very nature they require making
assumptions and involve inherent risks and uncertainties. The
Company cautions that although it is believed that the assumptions
are reasonable in the circumstances, these risks and uncertainties
give rise to the possibility that actual results may differ
materially from the expectations set out in the forward-looking
statements. Material risk factors include those set out in the
Company’s materials filed with the Canadian securities regulatory
authorities from time to time, including the Company’s most recent
annual information form and management’s discussion and analysis;
future capital requirements and dilution; intellectual property
protection and infringement risks; competition (including potential
for generic competition); reliance on key management personnel; the
Company’s ability to implement its business plan; the Company’s
ability to leverage its United States and Canadian infrastructure
to promote additional growth, including with respect to the
infrastructure of Medexus Inc. and Medac Pharma, Inc. and the
potential benefits the Company expects to derive therefrom;
regulatory approval by the Canadian health authorities; product
reimbursement by third party payers; patent litigation or patent
expiry; litigation risk; stock price volatility; government
regulation; and potential third party claims. Given these risks,
undue reliance should not be placed on these forward-looking
statements, which apply only as of the date hereof. Other than as
specifically required by law, the Company undertakes no obligation
to update any forward-looking statements to reflect new
information, subsequent or otherwise.
Medexus Pharmaceuticals (TSXV:MDP)
Historical Stock Chart
From Jun 2024 to Jul 2024
Medexus Pharmaceuticals (TSXV:MDP)
Historical Stock Chart
From Jul 2023 to Jul 2024