Cannvas Executives Exercise Stock Options, Sign of Confidence for Financial Markets, and Issues Shares for Services
TORONTO , July 3, 2018 /CNW/ - Cannvas MedTech Inc. ("Cannvas" or the "Company") (CSE: "MTEC"), a leading business technology company within the cannabis space, is pleased to announce that Shawn Moniz , Chief Executive Officer and Steve Loutskou , Chief Operating Officer, Global Markets, have exercised stock options to acquire 750,000 and 800,000 common shares of the Company, respectively. The 1,550,000 options were exercised at a price of $0.25 per common share.
"With our recent listing on the Canadian Stock Exchange we wanted to show the financial community that we believe in what we are doing and the long term success of Cannvas," said Steve Loutskou , Chief Operating Officer, Global Markets, Cannvas MedTech Inc. "It has been an exciting journey from the spinoff from PUF Ventures in late 2017, to establishing a long term business strategy and leveraging our intimate knowledge of technology and mobile applications with the new world economy of medical and recreational cannabis. With the recent passing of Bill C-45, known as the Cannabis Act, by the federal government of Canada and Prime Minister Trudeau's announcement that Canada will fully legalize cannabis on October 17, 2018 , we believe there is considerable upside for our business and our shareholders."
The Company also announced that it has issued a total of 60,000 common shares at a deemed value of $0.25 per common share to a service provider for past consulting and other services provided to the Company totaling approximately $15,000 .
About Cannvas MedTech Inc.
Cannvas MedTech is a leading business technology company within the cannabis space. We design and build customer-centric solutions that enable our partners to harness the power of data to truly understand their customers, industry, and key business drivers.
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
SOURCE Cannvas MedTech Inc.
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