/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES/
WINNIPEG, Sept. 12, 2018 /CNW/ - DELTA 9 CANNABIS INC.
(TSXV: NINE) ("Delta 9" or the "Company") announces that it granted
today an aggregate of 3,000,000 stock options (the "Options") to
certain directors, officers, employees and consultants of the
Company in accordance with the Company's stock option plan.
"Our overall business and number of employees has grown in leaps
and bounds since we listed our shares publicly last fall," said
Delta 9 Chief Executive Officer John
Arbuthnot. "We now have more than 120 full-time employees
and continue to grow our workforce exponentially as we expand and
look to execute on our business plan towards legalization of
cannabis this fall.
"Stock options are an effective compensation tool for us to
align employee and shareholder interests, to attract top talent,
and for incentive and retention purposes."
Each Option is exercisable into one common share of the Company
at a price of $1.79 per share for a
period of five years from the date of grant. The Options will vest
over twenty-four months, with one quarter (750,000 Options) vesting
every six months from the date of grant.
About Delta 9 Cannabis Inc.
Delta 9 Cannabis was the fourth producer
in Canada licensed to produce legal cannabis. Delta 9 now
operates its wholly-owned subsidiary, Delta 9 Bio-Tech Inc., as a
licensed producer of medical marijuana pursuant to the ACMPR and
operates an 80,000 square foot production facility
in Winnipeg, Manitoba,
Canada. Delta 9 also owns 50 per cent of the 70,000 square
foot Delta West facility in Alberta, and co-owns the
Delta West Lifestyles cannabis retail operation. Delta 9's shares
trade on the TSX Venture Exchange under the symbol "NINE".
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.
SOURCE Delta 9 Cannabis Inc.
