VANCOUVER, BRITISH COLUMBIA – October 21, 2016 – Breathtec BioMedical, Inc. (CSE: BTH) (CNSX: BTH) the “Company” or “Breathtec”), a medical diagnostics company focused on developing, in-licensing and commercializing proprietary, innovative and best-in-class breath analysis devices for the early detection of life threatening diseases announces that effective October 19, 2016 it cancelled a total of 975,000 incentive stock options (“Options”) granted under the Company’s stock option plan (the “Option Plan”) to a director of the Company. The cancelled Options were voluntarily surrendered by the holder thereof for no consideration. The cancelled Options were originally granted on October 26, 2015 with an exercise price of $0.25 per common share.
In addition, the Company announces that effective today, it has granted 750,000 Options to purchase 750,000 common shares in the capital of the Company to a director of the Company pursuant to the terms of the Option Plan. The Options are exercisable at a price of $0.17 per share and will vest immediately. The options expire on October 20, 2021.
Following the cancellation of 975,000 Options and the subsequent grant of 750,000 Options, the Company has 3,495,000 Options outstanding. The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.
For more information, please visit: www.breathtecbiomedical.com.
ON BEHALF OF THE BOARD
President & Director
For further information, please contact:
Telephone: +1 604.805.4602
The CSE has neither approved nor disapproved the information contained herein.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
This news release contains forward-looking statements relating to product development, licensing, commercialization and regulatory compliance issues and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.