TORONTO, Oct. 15, 2018 /CNW/ - Delivra Corp. (TSXV: DVA -
"Delivra" or the "Company"), a scientific and biotechnology
company, today announced that it has issued an aggregate of 550,000
incentive stock options (the "Options") each exercisable into one
common share in the capital of the Company, to eligible
participants under the Company's incentive stock option plan (the
"Plan"). The Options are exercisable at $0.36 per share for a period of five years from
the date of grant, expiring on October 15,
2023. Of the Options granted, 500,000 vest immediately and
50,000 vest 50% on the first anniversary of the grant date and 50%
on the second anniversary of the grant date. The options have been
granted under and are governed by the terms of the Plan.
The Company also makes reference to the 700,000 share purchase
warrants, exerciseable between $0.60
and $0.61 per share, expiring on
October 31, 2018. Pursuant to the
terms of the warrants, the warrant expiry date has been postponed
until the third business day following the lifting of the "blackout
period" that will be in effect on October
31, 2018 in connection with the release of the Company's
September 30th, 2018
financial results.
ABOUT DELIVRA CORP.
Delivra Corp. is a specialty biotechnology company having a
proprietary transdermal delivery system platform that can shuttle
pharmaceutical and natural molecules through the skin, in a
targeted manner. Delivra manufactures and sells a growing line of
natural topical creams with the proprietary transdermal delivery
system platform under the LivReliefTM brand, for
conditions such as joint and muscle pain, nerve pain, varicose
veins, wound healing, and under the LivSportTM brand for
sports performance. LivReliefTM products are available
in pharmacies, grocery chains, and independent health food stores
across Canada, including, but not
limited to, Shoppers Drug Mart, Walmart, Loblaw, Rexall,
Pharmasave, London Drugs, and on-line at www.livrelief.com. In
parallel with its consumer products business, Delivra also has a
mandate to license its patent-pending, proprietary transdermal
delivery technology platform to pharmaceutical companies globally,
for the repurposing of pharmaceutical molecules transdermally to
treat a broad range of conditions, along with licensing its
over-the-counter products globally. Delivra is headquartered in
Hamilton, Ontario and has a
research and development laboratory in Charlottetown, Prince Edward Island.
Further information on Delivra can be found at
www.delivracorp.com and www.livrelief.com.
Neither the 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.
SOURCE Delivra Corp