|[March 04, 2014]
Antibe Therapeutics Announces Annual Compensation Changes and Grant of Stock Options
TORONTO --(Business Wire)--
Antibe Therapeutics Inc. ("Antibe" or the "Corporation") (TSXV:ATE) is
pleased to announce that following the annual review by the Compensation
Committee of the performance of the Corporation and the compensation
practices of its peer companies, all personnel including Officers have
been granted a 5% pay increase, and that today the Corporation has
granted its management team options to purchase a total of 1,000,000
common shares of Antibe pursuant to the Corporation's stock option plan.
Each option bears an exercise price of $0.66, being the closing price of
Antibe shares on March 3, 2014, and an expiry date of March 4, 2024. Of
the total Options granted, 415,000 are considered Base Options and
585,000 are considered Bonus Options. Twenty-five percent of the Base
Options vest on the grant date and 1/36th of the remaining
Base Options vest in each of the subsequent 36 months. Bonus Options
shall begin vesting foreach member of the management team when that
member reaches a set of specified objectives. Twenty-five percent of the
Bonus Options vest on the date that the respective specified performance
objectives are met and 1/36th of the remaining Bonus Options
vest in each of the subsequent 36 months.
About Antibe Therapeutics Inc.
Antibe Therapeutics Inc. originates, develops and out-licenses
patent-protected new pharmaceuticals that are improved versions of
existing drugs. These improvements are based on Nobel (News - Alert) Prize-winning
medical research highlighting the crucial role of gaseous mediators,
chemical substances produced in the human body to regulate a range of
fundamental cellular processes. The Corporation's drug design
methodologies involve chemically linking an existing off-patent drug
("base drug") to an Antibe-patented, hydrogen
sulfide-releasing molecule. For medical conditions characterized by
inflammation, pain or vascular dysfunction, the
Corporation's methodologies can efficiently produce improved versions of
a number of existing drugs. Notably, Antibe's products are themselves
fully patent-protectable and may benefit from the predictable toxicity
and effectiveness profiles of the base drug.
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.
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