Jemtec Director Exercise Options

VANCOUVER, BC, Dec. 3, 2020 /CNW/ - JEMTEC Inc. (TSXV: JTC) (the "Company") announces that a Company Director, Gordon Baker, had exercised an option to purchase 57,805 shares of JEMTEC stock.

Pursuant to the Company's 2005 Plan (the Plan), the Board of Directors may, from time to time, grant options to directors, officers, employees and consultants of the Company. Each option entitles the holder to acquire one common share of the Company at such price and on such terms as determined by the Board in accordance with the Plan. The Options exercised by the Director were granted on December 3^rd 2015 under the Plan at an exercise price of $0.345 and were fully vested on June 03, 2017.

The Company also mentions for clarity these exercises are separate from the 125,000 options  granted under the 2018 Plan to certain directors of the Company at an exercise price of $0.75  per share. Those options are subject to vesting provisions over a two-year period.

FORWARD-LOOKING STATEMENTS

This  news  release  contains  forward-looking   statements,   which   relate   to   future   events   or   future performance and reflect management's current expectations and assumptions. Such forward- looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may  cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under  applicable  securities  legislation,  the  Company  does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither the 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.

SOURCE Jemtec Inc.

Copyright 2020 Canada NewsWire