TORONTO, June 11, 2020 (GLOBE NEWSWIRE) -- Arch Biopartners Inc. (“Arch” or the “Company”) (TSX Venture: ARCH and OTCQB: ACHFF) announced today that its Board of Directors has granted a total of 1,430,000 stock options to directors, officers and certain consultants pursuant to the Company's stock option plan and the requirements of the TSX Venture Exchange (TSXV).
The total grant of 980,000 options to the directors and officers represents remuneration for serving on the board and managing the Company's affairs for the annual periods ending April 1, 2020 and April 1, 2021.
Each of the director and officer stock options is exercisable into one common share of the Company for a period of ten years, exercisable at $1.48 per share. The grant of options will be subject to all necessary regulatory approvals.
About Arch Biopartners
Arch Biopartners Inc. is a clinical stage company focused on the development of innovative technologies that have the potential to make a significant medical or commercial impact. Arch is developing a drug pipeline to produce new drug candidates that inhibit inflammation in the lungs, liver and kidneys caused via the dipeptidase-1 (DPEP-1) pathway.
For more information on Arch Biopartners, its technologies and other public documents Arch has filed on SEDAR, please visit www.archbiopartners.com
The Company has 59,882,302 common shares outstanding.
All statements, other than statements of historical fact, in this news release are forward looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
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
For more information, please contact:Richard MuruveChief Executive OfficerArch Biopartners, Inc. 647-428-7031