Benzinga | Jan 20, 2022 11:36AM EST

Decibel Cannabis Shares Trading Lower On Announcing Stock Option Grants

Decibel Cannabis Company Inc. (TSXV:DB) (OTCQB:DBCCF) reported Thursday that it has granted, effective after market close on Jan. 19, 2022, some of 3.47 million stock options to certain officers and employees of the company in accordance with its stock option plan.

Based in Calgary, Alberta, the company said each option is exercisable for one Decibel common share at 14 cents each, the closing price of the shares on the TSX venture exchange on Wednesday, Jan. 19.

Decibel also disclosed that this is a normal-course grant that comprises part of the company's long-term compensation and employee retention incentives program.

The options will vest in equal installments on Jan. 1, 2023, Jan. 1, 2024, and Jan. 1, 2025 and expire on Jan. 1, 2027.

More recent news from Decibel:

* Decibel Cannabis Company Bolsters Financial Flexibility With $54M Debt Refinancing

* Decibel Reports Strong YoY Revenue Growth In Q3, Plans To Launch 40 New Product SKUs

* Decibel Cannabis Debuts Its First Series Of Infused Pre-Rolls Under General Admission Brand

* Decibel Cannabis Co. Raises $15M Via Bought Deal Unit Offering With Eight Capital, Haywood Securities And Raymond James

DBCCF Price Action

Decibel's shares traded 8.69% lower at $0.107 per share at the time of writing on Thursday morning.

Photo: Courtesy of Nicholas Cappello on Unsplash