AREV Life Sciences issues retention warrants
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VANCOUVER, BC / TheNewswire / May 27, 2022 / AREV LIFE SCIENCES GLOBAL CORP. (CSE:AREV) (OTC:AREVF) (“AREV” or the “Company”) is pleased to announce the issuance of the retention warrant offering as announced April 8, 2022.
AREV is pleased to announce a retention warrant offering to its senior management of Mike Withrow, CEO, and Kevin Phelps, COO. Each of the retention warrants are being sold to the purchase price of $0.05 per retention share purchase warrant and exercisable at $0.23 per common share during a term of 4 years from the date of closing of the retention warrant offering. The exercise of such warrant shall be subject to the occurrence of the following events:
|
ITEM |
PERCENTAGE/# of Warrants |
Exercisability Provision in regard of the Warrant Holder |
|
i. |
20% |
Signing of Executive Consulting Agreement |
|
ii. |
15% |
Conclusion of one year of Employment |
|
iii. |
15% |
Conclusion of two years of Employment |
|
iv. |
15% |
Conclusion of three years of Employment |
|
vi. |
35% |
Completion of any two of pre-established strategic initiatives. “Completion” is to be defined as a closed deal in which all parties have executed final agreements and the Company has taken ownership of any assets or funds. All agreements must be approved by the CSE and agree with all governing regulations. Any agreement deemed to be outside of the regulations will be deemed to have not completed. |
Insiders of the Company participation in the foregoing offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). Such participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities acquired by the insiders, nor the consideration for the securities paid by such insiders, exceed 25% of the Company's market capitalization.
For further information, contact Mike Withrow, arevlifesciences@gmail.com 778-929-6536. For more information visit www.arevlifesciences.com.
On behalf of the Board,
Mike Withrow
CEO & Director
About AREV Life Sciences Global Corp.
AREV is an early-stage life science discovery enterprise dedicated to delivering solutions to public health through discovery, collaborations in the life science industry, and pathogen remediation. AREV is invested in commercial innovations in phytomedicinal discoveries of small molecule antivirals and for related neglected chronic co-morbidities and innovations human nutrition including the late-stage development of a Ready-to-Use Therapeutic Food (RUTF) for Severe Acute Malnutrition (SAM) and an Enteral Formula targeting the long-term effects of chronic infection. AREV is dedicated to designing and delivering innovation in rational drug design, driven by presenting global epidemiological characteristics of multiple challenges to international human and animal health. AREV is a member of both BIOTECanada and The Biotechnology Innovation Organization (BIO).
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD LOOKING INFORMATION
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required
under the applicable laws. This press release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to a number of factors and risks various risk factors discussed in the Company’s Management’s Discussion and Analysis under the Company’s profile on www.sedar.com.