SOURCE: Novra Technologies Inc.

Novra Technologies Inc.

May 11, 2017 16:30 ET

Novra Announces Stock Option Grant

WINNIPEG, MB--(Marketwired - May 11, 2017) - Novra Technologies Inc. ("Novra") (TSX VENTURE: NVI) today announced that the TSX-V has formally approved Novra's 2017 Stock Option Plan ("2017 Plan") on May 9, 2017. This 2017 Plan replaces and terminates the former stock option plan. There were no options currently outstanding under the former plan. Novra has reserved up to 2,900,000 options to grant under the 2017 Plan. The adoption of this new 2017 Plan is part of Novra's overall compensation strategy to promote an alignment of interests from directors, executive officers and employees with those of Novra shareholders, as well as to aid in recruiting and retaining key employees.

Today, under the 2017 Plan, Novra granted 600,000 options to directors and executive officers, representing approximately 2% of Novra's total issued and outstanding common shares. The exercise price for these options is $0.12 per share. These options will expire in seven years and will vest as follows:

  • 20% on June 30, 2017;
  • 20% on December 31, 2017;
  • 20% on December 31, 2018;
  • 20% on December 31, 2019; and
  • 20% on December 31, 2020.

About Novra Technologies Inc.:

Novra (TSX VENTURE: NVI) is an international technology provider of products, systems and services for the distribution of multimedia broadband content. Novra's applications focus includes: broadcast video and radio, digital cinema, digital signage, and high-speed applications. For more information visit: www.novragroup.com.

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.

Contact Information