VANCOUVER, BC--(Marketwired - January 14, 2016) - NatureBank Asset Management Inc. (the "Company") (TSX VENTURE: COO)(9EA.F) has received Exchange approval for the repricing of a total of 1,200,000 stock options held by insiders of the Company (the "Insider Options"). The Insider Options were originally priced at between $0.15 and $0.21 per share. The new exercise price is $0.10 per share. Disinterested shareholder approval of the repricing was received at the Company's Annual General Meeting on October 6, 2015 and the amendment agreements with insiders holding the Insider Options were dated December 8, 2015. Shareholder approval had been sought for repricing of up to 1,350,000 options however, due to changes in the management and board of the Company, only 1,200,000 were repriced.
The repricing of the Insider Options follows the repricing of a total of 2,275,000 stock options held by non-insiders of the Company (the "Non-Insider Options") under the terms of amendment agreements dated December 8, 2015. The new exercise price of the Non-Insider Options is $0.10. The Company had originally planned to reprice 2,575,000 Non-Insider Options but, due to changes in personnel at the Company, this number changed.
The repricing of the Insider Options and the Non-Insider Options is effective as of today's date with the approval of the repricing being obtained by resolution of the Board of Directors of the Company. No exercise of either Insider or Non-Insider Options has yet occurred.
James Tansey, Ph.D. President and CEO NatureBank Asset Management Inc.
About NatureBank Asset Management Inc.
NatureBank is an internationally diversified carbon management and agroforestry solutions company. With offices in Vancouver, British Columbia and Portland Oregon, Bonn Germany and satellite offices in Panama and Vietnam, its team of industry leaders specialize in the origination, development and commercialization of high-quality agroforestry and carbon offset projects, in addition to offering a comprehensive suite of sustainability consultancy services. Through NatureBank advisory services group Offsetters and German based CO2OL, the company helps organizations understand, reduce and offset their climate impact. NatureBank has worked with over 200 leading business organizations including Aimia, Vancity, lululemon athletica, Catalyst Paper, Harbour Air, HSE - Entega, and Shell Canada Limited. NatureBank is publicly listed company on the Toronto Venture Exchange (TSX VENTURE: COO) and in Frankfurt:9EA. For more information, please visit us at www.NatureBank.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISKS:
Certain of the statements and information in this news release may constitute "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements. When used in this news release the words "anticipate", "believes", "estimates", "expects", "intends", "may", "project", "plan", "should" , "forecast", "outlook", "budget", "anticipated", "future", "potential" and similar words and expressions may identify forward-looking statements or information.
The statements in this news release reflect the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, known and unknown, could cause actual results, performance or achievements to be materially different from results, performance or achievements anticipated by management. The Company's ability to continue as a going concern is dependent upon its ability to maintain profitable operations and/or obtain the necessary financing to repay liabilities and obligations arising from normal business operations and to meet contractual liabilities related to the acquisition of Offsetters and CCC when they come due. The Company has been profitable in the past but has not achieved sustained, long term profitable operations and may require additional working capital and may seek additional financing through equity or debt and/or increased sales revenue and cash flows in order to remain a going concern. There is material uncertainty related to the Company's ability to secure necessary financing or generate additional sales revenue and cash flows in the amounts required. The Company could be adversely affected by risks and uncertainties as disclosed in the Company's most recent MD&A filing and financial statements as filed at www.sedar.com.
The Company does not intend, and does not assume any obligation to update any forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information other than as required by applicable securities or other laws.
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