TORONTO, ONTARIO--(Marketwired - April 18, 2017) - Arch Biopartners, Inc., (Arch or the Company) (TSX VENTURE:ARCH)(OTCBB:ACHFF) announces the Company's board has granted a total of 2,100,000 stock options to its directors, officers and certain scientists pursuant to the Company's stock option plan and the requirements of the TSX Venture Exchange (TSXV). The grant of options to the directors and the scientists represent their remuneration during the current year for serving on the board or working on Arch drug development respectively. The grant of options to the officers is for the year ended September 30, 2016.
Each of the stock options is exercisable into one common share of the Company for a period of seven years, exercisable at $0.50 per share, which was the closing price of Arch shares on April 17, 2017. The grant of options will be subject to all necessary regulatory approvals.
About Arch Biopartners
Arch Biopartners Inc. is focused on the development of innovative technologies that have the potential to make a significant medical or commercial impact. Arch works closely with the scientific community, universities and research institutions to advance and build the value of select preclinical technologies, develop the most promising intellectual property, and create value for its investors.
Arch has established a diverse portfolio that includes AB569, a potential new treatment for antibiotic resistant bacterial infections; Metablok, a potential treatment for inflammation, sepsis and cancer metastasis; MetaMx, which targets elusive brain tumor initiating cells; and, 'Borg' peptide coatings that increase corrosion resistance and decrease biofilm on various medical grade metals and plastics.
For more information on Arch Biopartners, other public documents Arch has filed on SEDAR and its technologies including, please visit www.archbiopartners.com.
The Company has 54,849,679 common shares outstanding.
All statements, other than statements of historical fact, in this news release are forward looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither 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.