VANCOUVER, B.C. – May 5, 2020 – WELL Heath Technologies Corp. (TSX: WELL) (the “Company” or “WELL”), a company focused on consolidating and modernizing clinical and digital assets within the primary healthcare sector, is pleased to announce it has granted an aggregate of 1,162,806 restricted share units (each, a “RSU”) to certain key employees, consultants, directors and officers of the Company pursuant to the Company’s Long-Term Performance Incentive Plan (the “LTIP”).
Each RSU represents the right to receive, once vested, one common share in the capital of the Company. The RSUs vest as follows:
- 60,679 RSUs, 33% of which vest on December 1, 2020, 33% of which vest on December 1, 2021 and 34% of which vest on December 1, 2022;
- 216,989 RSUs, 33% of which vest on February 1, 2021, 33% of which vest on February 1, 2022 and 34% of which vest on February 1, 2023;
- 613,294 RSUs, 33% of which vest on May 5, 2021, 33% of which vest on May 5, 2022 and 34% of which vest on May 5, 2023;
- 58,252 RSUs, 33% of which vest on September 1, 2021, 33% of which vest on September 1, 2022 and 34% of which vest on September 1, 2023;
- 43,689 RSUs which vest on May 5, 2021; and
- 169,903 RSUs which vest quarterly for a period of one year with the first RSUs vesting on August 5, 2020.
The Company also announces it has granted an aggregate of 136,545 performance share units (each, a “PSU”) to certain key consultants pursuant to the LTIP.Each PSU represents the right to receive, once vested and performance criteria are met, one common share in the capital of the Company.The PSUs vest as follows:
- 24,272 PSUs, 33% of which vest on December 1, 2020, 33% of which vest on December 1, 2021 and 34% of which vest on December 1, 2022; and
- 112,273 PSUs, 33% of which vest on May 5, 2021, 33% of which will vest on May 5, 2022 and 34% of which vest on May 5, 2023.
The Company also announces it has granted an aggregate of 765,000 stock options (each, an “Option”) to certain key employees and consultants pursuant to its Stock Option Plan, at an exercise price of $2.24 per common share. Such price is based on the prior 5 day volume weighted average price of the Company’s stock as quoted on the Toronto Stock Exchange. Each Option granted to the optionee is exercisable for a period of 5 years.The Options vest as follows:
- 740,000 Options, 25% of which vests on the first anniversary of the grant date, with quarterly vesting thereafter for a period of three years; and
- 25,000 Options, 25% of which vest on September 1, 2021, with quarterly vesting thereafter for a period of three years.
The Company also announces that it has appointed Tara McCarville as a member of the audit committee in place of Peter MacLean.The audit committee now consists of Kenneth Cawkell, Thomas Liston and Tara McCarville.
On Behalf of the Board of Directors
WELL HEALTH TECHNOLOGIES CORP.
Per: “Hamed Shahbazi”
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
About WELL
WELL is a unique company that operates Primary Healthcare Facilities as well as a significant EMR or Electronic Medical Records business that supports the digitization of such clinics. WELL owns and operates 21 medical clinics, is a majority owner of SleepWorks Medical and provides digital Electronic Medical Records (EMR) software and services to 1,500 medical clinics across Canada. WELL's overarching objective is to empower doctors to provide the best and most advanced care possible while leveraging the latest trends in digital health. WELL is publicly traded on the Toronto Stock Exchange under the symbol “WELL-T”. WELL was recognized as a TSX Venture 50 Company in 2018, 2019 and 2020. To access the Company's telehealth service, visit virtualclinics.ca and for corporate information, visit: www.WELL.company.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Pardeep S. Sangha, VP Corporate Strategy and Investor Relations
604-628-7266, investor@well.company