TORONTO, ONTARIO--(Marketwired - Sept. 9, 2016) - Mettrum Health Corp. ("Mettrum" or the "Company") (TSX VENTURE:MT), a vertically integrated provider of cannabis products, announced today that the Company has granted a total of 350,000 options to purchase common shares, with 50,000 each to the four (4) independent members of the Board of Directors of the Company and 150,000 to the Chief Financial Officer of the Company. Each of the options shall have an exercise price of $2.96, equal to today's closing price of the Company's common shares on the TSX Venture Exchange, and with a five-year term. The options granted to the independent members of the Board vest equally over two (2) years, with 50% vesting on the last business day immediately prior to the initially scheduled date of, respectively, the next, and next subsequent, annual (or annual and special) meeting of shareholders of the Company. The options granted to the Chief Financial Officer vest equally over three (3) years commencing on the first anniversary from today. All of the options are granted and shall be governed in accordance with the terms of the Company's stock option plan.
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About Mettrum Health Corp.
Mettrum Health Corp. is a Tier 1 Industry Issuer listed on TSX Venture Exchange. Mettrum Ltd., a wholly owned subsidiary of the Company, is a Toronto-based company and a licensed producer of medical cannabis under the Access to Cannabis for Medical Purposes Regulation (the "ACMPR"), which came into effect on August 24, 2016 and replaced the Marihuana for Medical Purposes Regulations ("MMPR"). Mettrum received its first license from Health Canada under the MMPR on November 1, 2013 and began production of medical cannabis at its first production facility in Bowmanville, Ontario. Mettrum received its second license from Health Canada under the MMPR on December 11, 2014 for its other wholly-owned subsidiary, Agripharm Corp., at Mettrum Creemore facility in Clearview, Ontario. Mettrum received its third license from Health Canada under the MMPR on December 17, 2015 for Mettrum Ltd. at its new 60,000 square foot production and distribution facility in Bowmanville, Ontario. With the Company's three licenses, Mettrum is a leading producer and vendor of medical cannabis under the ACMPR system. In addition, through its wholly-owned subsidiary Mettrum Hempworks, Mettrum also is a licensed producer and distribution of industrial cannabis (hemp) products, including Mettrum's functional food line, Mettrum Originals, under the Industrial Hemp Regulations (Canada) issued pursuant to the Controlled Drugs and Substances Act (Canada).