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Lineage Announces Issuance of Stock Options

TORONTO, May 25, 2018 (GLOBE NEWSWIRE) -- Lineage Grow Company Ltd. (the "Company" or "Lineage") (CSE:BUDD) would like to announce that the Company awarded stock options (“Options”) to members of its Board of Directors (the “Board”), the management team (“Management”), and various consultants (“Consultants”) on May 24th, 2018.

In aggregate, the Company issued 1,875,000 Options to members of the Board and Management, which are exercisable into common shares at a price of $0.25 per common share. The Options vest according to the following schedule: 1/6 of the Options vest immediately, with an additional 1/6 vesting every 6 months from issue date until fully vested.

Additionally, the Company issued 800,000 Options to various Consultants, which are exercisable into common shares at a price of $0.25 per common share. The Options vest according to the following schedule: 1/4 of the Options vest immediately, with an additional 1/4 vesting every subsequent quarter from issue date until fully vested.

About Lineage Grow Company Ltd.

Lineage Grow Company Ltd. is a reporting issuer that is listed on the Canadian Securities Exchange ("CSE"). Lineage is focused on establishing, either directly or through joint venture with licensed producers, dominant vertically-integrated cannabis businesses that leverage best-in-class cultivation, distribution, and retail assets. Lineage is targeting legalized cannabis markets across multiple jurisdictions in the United States and Canada and is seeking to deploy best practices in cultivation and retail management to drive performance across the Company’s asset base. Lineage has entered into binding letters of intent to purchase two cannabis dispensaries in Oregon and one in San Jose, California.

For further information, please contact:

David Posner, Director
Lineage Grow Company Ltd.
1(647)985-6727

Email: dposner@lineagegrow.com

This news release may contain forward-looking statements and information based on current expectations. Any such forward-looking statements may be identified by words such as "expects", "anticipates", "believes", "projects", "plans" and similar expressions. Forward looking information in this news release includes the following statements: (i) the expected terms and conditions for the Transaction; (ii) management's belief of significant value and upside in the Transaction; (iii) management's belief that Herbiculture is a high-value license attached to an operator who is achieving impressive performance on the ground; (iv) management's intention of pursuing additional near-term growth initiatives; (v) management's belief that the medical marijuana market in Maryland is expected to be worth US$221 million by 2021; (vi) management's plan to establish dominant vertically-integrated cannabis businesses that leverage best-in-class cultivation, distribution, and retail assets; (vii) management's intention to target legalized cannabis markets in the United States and Canada; and (viii) management's plan to deploy best practices in cultivation and retail management to drive performance across the Company’s asset base. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Such risks include operational risks; U.S. federal regulation risks; variation in state regulations; change of cannabis laws; security risks; risks related to operational permits and authorizations; risks on liability, enforcement complaints etc.; banking risks; risk that the Company’s limited operating history makes evaluating its business and prospects difficult; need for funds; risk that the Company may be exposed to infringement or misappropriation claims by third parties, which, if determined adversely to the Company, could subject the Company to significant liabilities and other costs; risk that the Company may need to incur significant expenses to enforce its proprietary rights, and if the Company is unable to protect such rights, its competitive position could be harmed; risks related to trade secrets; risk that Company is dependent upon its existing management, its key research and development personnel and its growing and extraction personnel, and its business may be severely disrupted if it loses their services; risk of potential for conflict of interest; risk related to inability to innovate and find efficiencies; competition risks; risk that a drop in the retail price of medical marijuana products may negatively impact the business; consumer acceptance of marijuana; potential future acquisitions and/or strategic alliances may fail to materialize and may have an adverse effect on the Company’s ability to manage its business; risk on management of growth; risk related to general economic trends; tax risk and currency fluctuation risks. For details of the risks faced by the Company, please see the Company's listing statement dated February 26, 2018 available at www.sedar.com under the Company's profile. There is no certainty that any of these events will occur. Although such statements are based on management's reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by applicable securities laws.

 

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