New Age Farm Inc. (NF: CNX) will issue warrants to certain officers, directors and consultants to compensate its team for work performed, to allow it to defer payment of certain obligations and to acquire continuing services. New Age Farm has negotiated these payment terms with its suppliers, payable as warrants, to control cash flow and to fulfill New Age Farm’s policy to provide equity compensation to offer team members the opportunity to hold a financial stake in the company that aligns their interests with those of shareholders. When equity awards represent a component of compensation and when team members maintain a stake in the company, they face upside potential and downside risk alongside investors.
As of the date of this news release, the company has issued 10 million warrants to certain of its consultants, officers and directors as part of its compensation program. Each whole warrant entitles the holder to acquire one common share in the equity of the company at a price of 15 cents per warrant share, which warrants will expire three years from the date of issuance.
The issuance of the securities described in this news release is subject to acceptance by the Canadian Securities Exchange. Securities issued in connection with these transactions may be subject to a four-month-and-one-day hold period.
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