Vancouver, British Columbia, Jun 15, 2022 (Newsfile Corp via COMTEX) -- Vancouver, British Columbia--(Newsfile Corp. - June 15, 2022) - good natured Products Inc. /zigman2/quotes/200277468/delayed CA:GDNP -1.79% (otcqx:GDNPF) (the " Company " or " good natured® "), a North American leader in plant-based products, is pleased to announce that it will be holding its next annual general meeting and special meeting of shareholders on July 22, 2022 at 8:30 a.m. Pacific Time at the offices of Stikeman Elliott LLP, Suite 1700, 666 Burrard Street, Vancouver, British Columbia, V6C 2X8 () Meeting "). The Company has elected to use the notice-and-access provisions under applicable Canadian securities laws to reduce the environmental impact with printing and mailing of the Company's management information circular () Circular ") and other meeting related materials to shareholders. good natured® will provide the Circular and other meeting related materials to shareholders by (i) posting them under the Company's profile on SEDAR and on the TSX Trust and (ii) delivering a form of proxy or a voting information form combined with a notice-and-access document advising shareholders how to access the meeting materials.
At the Meeting, shareholders will vote to elect the directors of the Company and to appoint the auditors. Additionally, the Company has adopted amendments to its current omnibus equity compensating plan as amended and restated on July 23, 2021 (the " Omnibus Plan ") to align it with the recently updated polices of the TSX Venture Exchange relating to security-based compensation, the details of which are set out in the Circular.
The Company also announced that on June 13, 2022, pursuant to the Company's current omnibus equity compensating plan as amended and restated on July 23, 2021, it has granted 139,091 stock options (the "Options"), 464,696 performance share units (the "PSUs") and 285,000 restricted share units (the "RSUs" and together with the Options, and PSUs, the " Equity Incentives ") to Paul Antoniadis, the Company's Chief Executive Officer, and Executive Chair.
The issuance of the Equity Incentives to Mr. Antoniadis is on the same terms and conditions as equity-based award issuances made by the Company to other directors, officers and employees in February 2022 and as described in the Company's press release dated February 25, 2022. Mr. Antoniadis was not issued equity-based awards in February 2022 and so the granting of the Equity Incentives to Mr. Antoniadis brings his equity-based compensation awards in line with other members of management and further align his interests with shareholders of the Company. The Options were granted with an exercise price of $0.66 per common share. Twenty-five percent (25%) of each grant vests on February 21, 2023 with the balance vesting in equal monthly increments over the following three years. Each option is exercisable, once vested, for a period of seven years from the date of the grant. The PSUs vest in accordance with certain performance criteria based on the Company's stock price performance against a peer group of companies further described in the Circular. The RSUs will vest 1/3 per year on each of February 21, 2023, February 21, 2024 and February 21, 2025.
Each PSU and RSU entitles the holder thereof to receive either one common share, the cash equivalent of one common share or a combination of cash and common shares, as determined by the Company.
The granting of all Equity Incentives is subject to TSX Venture approval.
The good natured ® corporate profile can be found at: investor.goodnaturedproducts.com
About good natured® Products Inc.
good natured ® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of plant-based products made from rapidly renewable resources instead of fossil fuels. The Company is focused on making it easy and affordable for business owners and consumers to shift away from petroleum to better everyday products ® that use more renewable materials, less fossil fuel, and no chemicals of concern.
good natured ® offers over 400 products and services through wholesale, direct to business, and retail channels. From plant-based home organization products to certified compostable food containers, bio-based industrial supplies and medical packaging, the Company is focused on making plant-based products more readily accessible to people as a means to create meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis - Executive Chair & CEO
1-877-286-0617 ext. 113
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of securities laws including statements related to upcoming Meeting. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
By their nature, forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances and other factors that are difficult to predict and many of which are outside of the Company's control which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking information contained in this news release is based on our current estimates, expectations and projections regarding, among other things, sales volume and pricing which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date.
When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to herein will not cause such forward-looking statements and information to differ materially from actual results or events. However, there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
Other than as required under securities laws, we do not undertake to update this information at any particular time. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
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