Vancouver, British Columbia, January 14, 2022 – Harrys Manufacturing Inc. (CSE: HARY) (the “Company” or “Harrys”) is pleased to announce that pursuant to its incentive stock option plan (“Option Plan”), it has issued an aggregate of 1,750,000 stock options (the “Options”) to directors and officers and a consultant (the “Consultant”) of the Company. Each Option is exercisable for one common share in the capital of the Company (each, a “Share”) at an exercise price of $0.11 per Share. The Options expire after five years, with the exception of the Options granted to the Consultant, which expire after two years. The Options vest as of the date of the grant. The Options are subject to the terms of the Company’s Stock Option Plan, any regulatory approvals and are subject to a statutory hold period expiring on May 15, 2022 in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange.
Following the grant of 1,750,000 Options, the Company has 6,130,000 Options outstanding. The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.
Harrys is a wholesale distributor of value priced, high quality, 100% natural tobacco cigarettes. Harrys utilizes various types of tobacco blends to satisfy customer demands and preferences for products that meet Health Canada standards. Harrys’ management team brings over 50 years of combined experience in the domestic and international tobacco industry. For more information, please visit: www.harrysmfg.com.
ON BEHALF OF THE BOARD
President & CEO
For further information, please contact:
Information in this news release concerning the Company’s products is indented for the exclusive use of market investors and is not in any way intended to promote tobacco products to consumers, which is prohibited by Canadian law.
The CSE has neither approved nor disapproved the information contained herein.
This news release contains forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange and other risks detailed from time to time in the filings made by the Company with securities regulations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.