BOAT THE LIMESTONE BOAT CO LTD

The Limestone Boat Company Announces Grant of Options

The Limestone Boat Company Announces Grant of Options

COLLINGWOOD, Ontario, Oct. 03, 2022 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited ("Limestone" or the "Corporation") (TSXV: BOAT |OTCQB: LMSBF) announces today that it has granted to certain directors, officers, employees and consultants of the Corporation an aggregate of 4,745,000 options to purchase common shares of the Corporation ("Options"), exercisable at a price of $0.12 per common share for a period of five years.

The Options will vest according to two separate vesting schedules. For certain Option recipients, 31.25% of the Options will vest immediately with the remaining Options vesting on a quarterly basis for three years thereafter. For the balance of the Option recipients, one quarter (25%) of the Options will vest nine (9) months after their grant date with the remaining Options vesting on a quarterly basis for three years thereafter. The common shares issuable upon exercise of all Options will be subject to a four-month hold period from the original date of grant.

No Options were issued to the Board Chair or the Chief Executive Officer of the Company as part of the issuance of these Options.

The Limestone Boat Company - owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats - is publicly traded on the Toronto Venture Exchange under the ticker symbol BOAT. They are headquartered in Collingwood, Ontario with a 145,000 sq. ft. manufacturing facility in White Bluff, Tennessee. The Company is backed by a large, skilled labor force and dealer partners throughout the United States and the Canadian Great Lakes Region.

For more information, contact:

Investor Relations:

Bill Mitoulas

800-720-2395

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.



EN
03/10/2022

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on THE LIMESTONE BOAT CO LTD

 PRESS RELEASE

The Limestone Boat Company Limited Provides Market Update with Respect...

The Limestone Boat Company Limited Provides Market Update with Respect to Chapter 7 Bankruptcy Filings by US- Subsidiaries COLLINGWOOD, Ontario, March 10, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited ("Limestone" or the "Company") (TSXV: BOAT) – confirms that its wholly-owned subsidiaries Ebbtide Holdings, LLC, doing business as "TN Composites" ("TN Composites") and Limestone US Inc. ("Limestone US" and collectively with TN Composites, the "Limestone US Subsidiaries") held its virtual creditor meetings for both companies on Wednesday, February 22, 2023 in relation to the pr...

 PRESS RELEASE

The Limestone Boat Company Announces Intention to Delist From OTC Trad...

The Limestone Boat Company Announces Intention to Delist From OTC Trading Platform COLLINGWOOD, Ontario, March 01, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited (the "Company") (TSXV: BOAT |OTCQB: LMSBF) today announced that it intends to voluntarily terminate its listing services on the OTCQB Venture Market ("OTCQB") trading platform. The Company's common shares remain listed for trading on the TSX Venture Exchange. The Board of Directors of the Company have made this decision after considering a number of factors including the associated listing fee expenses and administr...

 PRESS RELEASE

The Limestone Boat Company Limited – Corporate Update

The Limestone Boat Company Limited – Corporate Update NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S. COLLINGWOOD, Ontario, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited ("Limestone" or the "Company") (TSXV: BOAT | OTCQB: LMSBF) today issues a letter to shareholders from its Board Chair, Telfer Hanson. Dear fellow shareholders and stakeholders, I am pleased to be able to give you an update on the proposed plan of operations for The Limestone Boat Company. Our team has been working extremely hard and the challenges of the past 18...

 PRESS RELEASE

Ebbtide Holdings LLC and Limestone, US Inc., Wholly-Owned Subsidiaries...

Ebbtide Holdings LLC and Limestone, US Inc., Wholly-Owned Subsidiaries of The Limestone Boat Company Limited, Make Chapter 7 Bankruptcy Filings in the State of Tennessee COLLINGWOOD, Ontario, Jan. 20, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company Limited ("Limestone" or the "Company") (TSXV: BOAT | OTCQB: LMSBF) – announces today that its wholly-owned subsidiaries Ebbtide Holdings, LLC, doing business as "TN Composites" ("TN Composites") and Limestone US Inc. ("Limestone US" and collectively with TN Composites, the "Limestone US Subsidiaries") have filed voluntary petitions for reli...

 PRESS RELEASE

The Limestone Boat Company Confirms Intention to Restructure in Q1

The Limestone Boat Company Confirms Intention to Restructure in Q1 COLLINGWOOD, Ontario, Jan. 16, 2023 (GLOBE NEWSWIRE) -- The Limestone Boat Company ("Limestone" or the “Company”) (TSXV: BOAT | OTCQB: LMSBF) – owner and builder of Aquasport Boats, Limestone® Boats and Boca Bay Boats – announces today that it has provided a notice of default under its trust indenture, dated May 14, 2021, between Limestone and TSX Trust Company as trustee (the "Indenture") in connection with the Company's failure to make the interest payment due under the Indenture on January 3, 2023. The Company contin...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch