Pearl River Announces Amended Stock Option Plan

LONDON, Ontario, Oct. 24, 2023 (GLOBE NEWSWIRE) -- PEARL RIVER HOLDINGS LIMITED (“Pearl River”) (TSXV: PRH) announced that it has adopted an amended stock option plan (the “Amended Option Plan”)‎, subject to final approval of the TSX Venture Exchange (the “TSXV”). The Amended Option Plan was approved by the Pearl River’s ‎shareholders at its annual general and special meeting of shareholders held on October 13, 2023.‎ The Amended Plan is substantially the same as the previous stock option plan, however the Amended Plan allows for the exercise of stock options on a cashless and net exercise basis and contains other ‎minor amendments to ensure compliance with TSXV Policy 4.4 ‎‎– Security Based Compensation. The aggregate number of common shares that may be reserved for issuance under the Amended Plan must not exceed 5,461,985 common shares (20% of the Corporation’s issued and outstanding shares) and there are currently 2,230,000 stock options outstanding.

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