Toronto, Ontario--(Newsfile Corp. - August 26, 2020) - SustainCo Inc. (TSXV: SMS) (the "Company" or "SustainCo") announces that it has granted stock options for a total of 600,000 common shares of the Company to officers, directors, consultants and employees of the Company. The stock options are exercisable at $0.20 per share and will expire on August 26, 2023. The stock options vest over a 12-month period following the date of grant and are governed by the terms of the Company's stock option plan.
Following this grant of stock options, the Company has a total of 1,300,000 stock options outstanding representing 8.24% of the outstanding common shares of the Company. This stock option grant is subject to TSX Venture Exchange approval.
About SustainCo Inc.
SustainCo conducts its operations through one wholly-owned subsidiaries, VCI CONTROLS Inc. ("VCI" or "VCI CONTROLS").
VCI is a leading supplier of building technologies and services that improve comfort, safety, energy efficiency, and occupant productivity. It is an industry leader in the development of intelligent building technology, including the integration of all building systems utilizing the latest in communications technologies and standards. VCI's business focuses on digital controls and mechanical services, performance monitoring, and energy efficiency solutions.
With headquarters in Toronto, SustainCo has offices across Canada including, Halifax, Montreal, Pembroke, Ottawa, and Vaughan. For more information, visit www.sustainco.ca.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange (the "Exchange") and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of the Company should be considered highly speculative. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
Neither the Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Chief Executive Officer
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