BIOHARVEST SCIENCES INC. ANNOUNCES GRANT OF STOCK OPTIONS

VANCOUVER, BC, October 8, 2021BioHarvest Sciences Inc. (“BioHarvest” or the “Company”) (CSE: BHSC)announces that it has granted a total of 955,000 stock options to employees and consultants. The stock options granted are exercisable to purchase a common share of the Company at a price of CAD$ 0.34 per share for a term of 10 years. 615,000 stock options granted will vest quarterly, and 300,000 will vest monthly over 3 years. 20,000 stock options will vest quarterly over 2 years and the remaining 20,000 stock options granted will vest monthly over 6 months.

Additionally, the Company has issued a total of 50,000 warrants to a consultant as part of the terms of his service agreement. Each warrant is immediately exercisable to purchase one share of common stock at an exercise price of CAD$ 0.34 and will expire 2 years from the date of issuance.

About BioHarvest Sciences Inc.

BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit:www.bioharvest.com.

BioHarvest Sciences Inc.

Ilan Sobel, Chief Executive Officer

For further information, please contact:

Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

 

Forward-Looking Statements 

Information set forth in this news release includes forward-looking statements that are based on management’s current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that the Israeli market results will translate directly into the U.S. markets which may depend on different consumer preferences and more substantial marketing expenditures and resources. There is no assurance that strong sales metrics experienced to date will result in future demand or that the 15% increase for VINIA® sales orders forecast in Israel will be achieved by end of 2021. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control.  Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

 All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures. 

 Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.