TORONTO, ONTARIO, September 1, 2020 – NeuPath Health Inc. (TSXV:NPTH) (“NeuPath” or the “Company”), Canada’s largest provider of chronic pain management services, announced today a grant of 461,080 stock options (“Options”) to directors, officers and certain employees of the Corporation at an exercise price of $0.87 per share, with an expiry date of September 1, 2027. The Options are subject to time-based vesting. Options granted to directors will fully vest on September 1, 2021. Options granted to officers and certain employees of the Corporation will vest annually in equal instalments on each anniversary date from the date of grant for 4 years and the Options will expire 7 years from the grant date. The terms of the Options granted on September 1, 2020 are in accordance with the Company’s Amended and Restated Stock Option Plan.
In addition, the Corporation granted 198,175 restricted share units (“RSUs”) to directors and officers, with an expiry date of September 1, 2024. All RSUs are subject to time-based vesting. RSUs granted to directors will fully vest on September 1, 2021. One quarter of the RSUs granted to officers will vest annually on each of the first, second, third and fourth anniversaries from the date of grant. The terms of the RSUs granted on September 1, 2020 are in accordance with the Company’s Restricted Share Unit Plan.
NeuPath is Canada’s largest provider of chronic pain management services that operates under two leading brands in Ontario: CPM – Centres for Pain Management and InMedic Creative Medicine. NeuPath has 12 locations across Ontario with more than 100 staff members that provide care to over 11,000 patients annually. NeuPath offers a comprehensive chronic pain assessment and multi-modal treatment plan based on recommendations by a group of trained physicians to help patients manage their chronic pain and optimize their quality of life. In addition to chronic pain management clinics, NeuPath offers workplace health services as the single, largest cost of chronic pain is lost productivity due to job loss and sick days.
This news release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. A comprehensive discussion of these and other risks and uncertainties can be found in the Company’s filing statement dated May 29, 2020 filed on SEDAR under the Company’s profile at www.sedar.com. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.
For more information, please contact:
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS THE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.