Earthworks Industries Inc. (“Company”) reports that 1,950,000 previously issued share purchase options have been exercised. As the exercise was $0.10 per share the Company has received proceeds of $195,000.
The Company has also granted a total of 5,250,000 share purchase options to five directors, two advisors, one employee and a service provider. The options will be exercisable until July 31, 2027, at $0.15 per share. In addition to the new options, the Company is seeking exchange approval to reset the price of 600,000 previously granted share purchase options to a director and two service providers. The current options are priced at $0.40, and will be reset at $0.15 and exercisable until July 31, 2027.