TRUBAR INC. ANNOUNCES SEPARATION AGREEMENT WITH FORMER CFO
Among other things, the Separation Agreement provides, subject to the acceptance of the TSX Venture Exchange (the "TSXV"), for a one-time severance payment to Mr. Meadows of CAD$100,000, less any required withholdings, payable through the issuance of common shares (the "Severance Shares") in the capital of the Company at a deemed price per share equal to $0.81 per share.
The Severance Shares will be outside of the Company's equity incentive plan as a one-time severance payment paid to Mr. Meadows pursuant to Section 6.4 of TSXV Policy 4.4. – Security Based Compensation.
About TRUBAR Inc.
TRUBAR Inc. is a better-for-you snacking company focused on delivering high-quality, plant-based protein products with exceptional taste and made with clean, recognizable ingredients. TRUBAR™, the Company's signature product line, is distributed through national retailers, club stores, and e-commerce platforms across North America. The Company is focused on expanding TRUBAR's presence throughout North America and select international markets. For more information, visit: https://www.trubarinc.com/
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.
Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" and "forward looking statements" as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions. Specifically, this news release contains forward-looking statements relating, but not limited to management's current expectations that it will receive TSXV acceptance for the issuance of the Severance Shares.
Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risks set forth in the Company's management's discussion and analysis available under the Company's SEDAR+ profile at www.sedarplus.com.
The above summary of assumptions and risks related to forward-looking statements in this news release has been provided to provide shareholders and potential investors with a more complete perspective on the Company's current and future operations and such information may not be appropriate for other purposes. There is no representation by the Company that actual results achieved will be the same in whole or in part as those referenced in the forward-looking statements and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
SOURCE Trubar Inc.
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