TORONTO, Sept. 16,
2022 /CNW/ - Global Food and Ingredients Ltd.
(TSXV: PEAS) ("GFI" or the "Company"), announced
today that it has granted incentive stock options (the "Options) to
certain directors, officers and employees of the Company to acquire
an aggregate of 1,300,000 common shares in the capital of the
Company, in accordance with the Company's 10% rolling incentive
stock option plan. All Options were granted pursuant to the
Company's stock option plan and are subject to the terms of the
applicable grant agreements and the requirements of the TSX Venture
Exchange ("TSXV"). 310,000 of the options were issued to Directors
and Officers of the Company.
The Options were granted at an exercise price of $0.88. The Options will vest evenly over the next
three years and become fully vested by September 16, 2025. The Options are exercisable
for a five-year term, expiring September 16,
2027.
About GFI
GFI is a fast-growing Canadian plant-based food and ingredients
company, connecting the local farm to the global supply chain for
peas, beans, lentils, chickpeas and other high protein specialty
crops. GFI is organized into four primary business lines: Pea
Protein Inputs, Plant-Based Ingredients, Plant-Based Pet Food
Ingredients and Plant-Based Consumer Packaged Goods. Headquartered
in Toronto, GFI buys directly from
its extensive network of farmers, processes its products locally at
its four wholly-owned processing facilities in Western Canada and ships to 37 countries
across the world.
GFI's vision is to become a vertically integrated farm-to-fork
plant-based company providing traceable, locally sourced, healthy
and sustainable food and ingredients. Through recent
acquisition and development activities, GFI now offers a full suite
of Plant-Based Consumer Packaged goods with over 20 SKUs under the
YoFiit, Bentilia and Five Peas in Love brands.
Website: www.gfiglobalfood.com
Social media links: https://linktr.ee/gfi.globalfood
Disclaimer
Neither the TSXV nor its Regulation Service Provider (as
defined policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this press release.
Forward-Looking
Statements
This press release may contain certain forward-looking
information and statements ("forward-looking information") within
the meaning of applicable Canadian securities legislation, that are
not based on historical fact, including without limitation
statements containing the words "believes", "anticipates", "plans",
"intends", "will", "should", "expects", "continue", "estimate",
"forecasts" and other similar expressions. Forward looking
statements in this press release include without limitation
statements relating to GFI continuing to add further downstream
processing and the effects thereof and GFI's business objectives.
Readers are cautioned to not place undue reliance on
forward-looking information. Actual results and developments may
differ materially from those contemplated by these statements. GFI
undertakes no obligation to comment analyses, expectations or
statements made by third-parties in respect of GFI, its securities,
or financial or operating results (as applicable). Although GFI
believes that the expectations reflected in forward-looking
information in this press release are reasonable, such
forward-looking information has been based on expectations, factors
and assumptions concerning future events which may prove to be
inaccurate and are subject to numerous risks and uncertainties,
certain of which are beyond GFI's control, including the risk
factors discussed in GFI's Filing Statement dated May 30, 2022, which are incorporated herein by
reference and are available through SEDAR at www.sedar.com. The
forward-looking information contained in this press release are
expressly qualified by this cautionary statement and are made as of
the date hereof. GFI disclaims any intention and has no obligation
or responsibility, except as required by law, to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise.
SOURCE Global Food and Ingredients