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MONTREAL, QUEBEC -- (Marketwired) -- 07/23/15 -- Pediapharm Inc. ("Pediapharm" or the "Corporation") (TSX VENTURE: PDP) announces that its Board of Directors has approved the grant of 1,505,000 stock options to certain directors, officers and employees of the Corporation, subject to regulatory and TSX Venture Exchange approval. The options were issued with an exercise price of $0.34 per share and have a term of ten (10) years. In addition, the options have varied vesting provisions such that they vest either over three (3) or four (4) years.
The Corporation's Board of Directors has also approved the payment of bonuses to certain officers of the Corporation for their contribution during the twelve months ended March 31, 2015. A portion of the bonuses will be payable in cash and the balance shall be payable through the issuance of an aggregate of 168,382 common shares of the Corporation (the "Common Shares") at a deemed price of $0.34 per share.
The Common Shares will be subject to a four-month hold period under applicable Canadian securities laws ending four months and a day after the date of issue.
The issuance of Common Shares for services is subject to the acceptance of the TSX Venture Exchange.
About Pediapharm Inc.
Pediapharm is the only Canadian specialty pharmaceutical company dedicated to serving the needs of the pediatric community. Its mission is to bring to the Canadian market the latest innovative pediatric products with the objective to improve the health and the well-being of children in Canada. Since its debut in 2008, Pediapharm has entered into numerous commercial agreements with partners from Canada and other countries around the world. The company's innovative product portfolio includes NYDA®; a breakthrough treatment for head lice; EpiCeram® a non-steroid emulsion for eczema; KoolEffect which reduces the symptoms of fever; and VapoLyptus; a soothing vapour patch of Eucalyptus and Camphor.
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.Contacts: Sylvain Chretien, President and Chief Executive Officer Pediapharm Inc. 514-762-2626 ext. 201 Roland Boivin, Chief Financial Officer Pediapharm Inc. 514-762-2626 ext. 202 Frank Candido Direct Financial Strategies and Communication Inc. 514-969-5530 NEXT ARTICLE
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