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Grown Rogue International Inc. (CSE:GRIN) (OTC:GRUSF), a craft cannabis company rooted in Oregon’s Rogue Valley granted stock options and restricted stock units (RSUs) to key directors, officers and employees, marking a significant step in aligning leadership incentives with long-term company goals.
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The company has granted options to purchase an aggregate of 6,755,000 subordinate voting shares (SV Shares) at an exercise price of $0.84 per share.
The majority, 5,355,000 options, expire three years from the grant date, while the remaining 1,400,000 expire in five years. The vesting schedule is designed to encourage retention and performance, with 6,705,000 options vesting in equal installments over the next three years.
In addition to the stock options, Grown Rogue has granted 454,200 RSUs to certain directors, further solidifying their stake in the company’s future.
Grown Rogue also announced the conversion of 75,194,941 multiple voting shares (MV Shares) into subordinate voting shares. This conversion simplifies the company’s capital structure by eliminating the MV Shares, leaving 222,276,113 SV Shares outstanding.
The conversion was led by the company’s CEO Obie Strickler, who converted 2,000 MV Shares into 2,000,000 SV Shares. Following this conversion, Strickler now holds a 15.6% stake in the company on an undiluted basis.
The issuance of stock options and RSUs, coupled with the conversion of MV Shares, suggests that the company is positioning itself for long-term growth. The grants and conversions could also be interpreted as a sign of confidence in Grown Rogue’s prospects, particularly as it continues to expand its footprint across key U.S. markets.
