VANCOUVER, BC- Imperial Ginseng Products Ltd. (the “Company”) (TSX VENTURE: IGP) announces that its Board of Directors has approved the adoption of an amended and restated stock option plan (the “New Plan”). Under the New Plan, the maximum number of common shares that may be reserved for issuance is fixed at 720,000, representing approximately 10% of the total issued and outstanding common shares of the Company as at May 29, 2017.
The Company currently has a total of 192,000 stock options outstanding. Subject to obtaining shareholder approval for the New Plan, which the Company will seek at its annual general meeting scheduled to be held in December 2017, the Company has granted an additional 522,000 incentive stock options to officers and directors of the Company. Each new option permits the grantee to acquire one common share of the Company at a price of $0.85 per share and expires five years from the date of grant.
The New Plan will also be subject to the approval of the TSX Venture Exchange.
About Imperial Ginseng Products Ltd.
The Company is an agricultural company that seeks to provide investors returns through the cultivation and processing of North American ginseng in Ontario and the marketing of its root to Asia.
Source: Imperial Ginseng Products Ltd.