Avricore Health Inc. Grants Stock Options to Boost Growth
Avricore Health Inc. Grants Stock Options
Avricore Health Inc. (TSXV: AVCR) recently announced significant developments from the board of directors. They have approved the granting of stock options, or "Options," for a total of 3,361,000 common shares. These Options are allocated to the company's directors, officers, employees, and consultants, featuring an exercise price of CAD $0.29 per common share.
Details on the Stock Options
These stock options are granted in alignment with the company’s existing stock option plan. The Options come with specific terms outlined in the grant agreements and conform to the regulations set forth by the TSX Venture Exchange.
As part of the agreement, the options will start vesting on a quarterly basis right after the date of the grant. They remain valid for a period of five years, provided that the recipients continue to serve as directors, officers, employees, or consultants with Avricore.
HealthTab™ Market Insights
In recent years, the demand for point-of-care testing has skyrocketed, and this is reflected in the HealthTab™ market. Key facts include:
- Experts project that the Point of Care Testing Market will soar to nearly $93.21 billion USD by 2030.
- Nearly 13.6 million people in Canada are expected to either have diabetes or be prediabetic by 2030, and unfortunately, many remain undiagnosed.
- In the U.S., over 88 million individuals are estimated to have pre-diabetes.
- Every year, around 160,000 Canadians aged 20 and above are diagnosed with heart disease, often after significant health issues have already occurred.
- Across Canada, there are more than 10,000 pharmacies, while the numbers jump to approximately 88,000 in the U.S. and nearly 12,000 in the UK.
Understanding HealthTab™
HealthTab™ represents a groundbreaking point-of-care testing solution that seamlessly merges state-of-the-art testing technologies with a secure cloud-based platform, designed to address urgent global health challenges. With a simple finger prick, the system can provide lab-accurate results instantly while reporting real-time data. The test covers up to 23 essential biomarkers that help in screening and managing chronic diseases, including diabetes and heart disease.
More recently, HealthTab™ has enhanced its capabilities to include testing for bacterial and viral infections such as strep throat and COVID-19. The model for the HealthTab™ network is unique in the pharmacy sector, empowering pharmacists to take a more central role in primary care while allowing patients to manage their health more effectively. This innovative approach is designed to reduce healthcare costs and waiting times, fostering numerous revenue opportunities through equipment leasing, direct access testing, disease management programs, and clinical trials.
About Avricore Health Inc.
Avricore Health Inc. (TSXV: AVCR) is dedicated to reshaping pharmacy services by focusing on acquiring and nurturing early-stage technologies that enhance patient care and pharmacy practice. Its flagship solution, HealthTab™, aims to democratize access to crucial health information by building the largest network of rapid testing devices within community pharmacies.
Contact Information
For further queries, you can reach out to:
Avricore Health Inc.
Hector Bremner, CEO
604-773-8943
info@avricorehealth.com
www.avricorehealth.com
Frequently Asked Questions
What are stock options and why are they important?
Stock options give employees and directors the right to purchase company shares at a predetermined price, helping align their interests with shareholders.
How many stock options did Avricore grant?
Avricore Health Inc. granted a total of 3,361,000 stock options.
What is HealthTab™?
HealthTab™ is a point-of-care testing solution that delivers lab-quality results efficiently, supporting the management of chronic diseases.
What benefits does the HealthTab network model provide?
The HealthTab network allows pharmacists to play an expanded role in healthcare, reduces costs and waiting times, and creates multiple revenue opportunities.
How can I get in touch with Avricore Health Inc.?
You can contact Avricore Health Inc. through their email info@avricorehealth.com or visit their website at www.avricorehealth.com.
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