GreenSpace Brands Inc.
TUNIS : JTR

May 19, 2015 08:30 ET

GreenSpace Brands Inc. Announces Grant of Incentive Stock Options

TORONTO, ONTARIO--(Marketwired - May 19, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

GreenSpace Brands Inc. ("GreenSpace" or the "Corporation") (TSX VENTURE:JTR) is pleased to announce that its board of directors approved the granting of incentive stock options (the "Options") pursuant to the terms of the Corporation's stock option plan to officers, employees and consultants to acquire up to an aggregate of 381,250 common shares in the capital of the Corporation (the "Common Shares") and to directors to acquire up to an aggregate of 482,353 Common Shares.

All Options granted to officers, employees and consultants of the Corporation are exercisable for a period of ten years at a price of $0.96 per Common Share. These Options vest over a five year period with 20.0% of the Options vesting one year after the date of the grant and the remainder vesting 20.0% annually thereafter.

All Options granted to directors of the Corporation are exercisable for a period of ten years at a price of $0.96 per Common Share. These Options vest over a three year period with 33.3% of the Options vesting one year after the date of the grant and the remainder vesting 33.3% annually thereafter.

Upon the granting of the Options described above, GreenSpace will have 1,257,282 Options outstanding. GreenSpace's stock option plan currently limits the issuance of Options to no more than 10% of the outstanding Common Shares. Final approval for the Option grant is subject to TSX Venture Exchange approval.

ABOUT GREENSPACE BRANDS INC.

Greenspace develops, markets and sells premium convenience natural food products to consumers across Canada. Greenspace's original brand, 'Life Choices' features premium convenience meat products made with a variety of combinations of grass fed and pasture raised meats (meat raised without the use of added hormones and antibiotics). Life Choices owns Rolling Meadow Dairy (Canada's first grass fed dairy product line), Holistic Choice (a natural pet food line) and Yamba Yogurts (an Australian style yogurt line). All brands are wholly owned by Life Choices and retail in a variety of natural and mass food retail locations across Canada.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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