VANCOUVER, British Columbia, Feb. 08, 2019 (GLOBE NEWSWIRE) -- Novoheart Holdings Inc. (“Novoheart” or the “Company”) (TSXV: NVH; FWB: 3NH) announces that it has granted incentive stock options to purchase an aggregate of 420,613 common shares of the Company (the “Options”) and 2,355,000 restricted share units of the Company (“RSUs”)  to directors, scientific founding members, and employees of the Company.

Option Grants

The Options have an exercise price of $0.32 per common share.  The Options expire on December 6, 2023 and vest 40% on the first anniversary of the grant date and 30% on each of the second and third anniversaries of the grant date. The Option grants are subject to the acceptance of the TSX Venture Exchange.

RSU Grants

The Company has granted an aggregate of 2,355,000 RSUs under the RSU plan which was approved by the disinterested shareholders of the Company at the annual meeting of shareholders held on February 23, 2018. 780,000 RSUs, 1,300,000 RSUs and 275,000 RSUs were granted on April 1, June 1, and December 6, 2018, respectively. The RSUs vest between June 30, 2019 and December 6, 2021. Each vested RSU entitles the holder to receive one common share of the Company. 364,000 of the RSUs were granted to Directors.

About Novoheart:

Novoheart is a global stem cell biotechnology company pioneering an array of next-generation human heart tissue prototypes. It is the first company in the world to have engineered miniature living human heart pumps that can revolutionize drug discovery, helping to save time and money for developing new therapeutics. Also known as 'human heart-in-a-jar', Novoheart’s bio-artificial human heart constructs are created using state-of-the-art and proprietary stem cell and bioengineering approaches and are utilized by drug developers for accurate preclinical testing as to the effectiveness and safety of new drugs, maximizing the successes in drug discovery whilst minimizing costs and harm caused to patients.

For further information, please contact:
Ronald Li, CEO
info@novoheart.com

Neither 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.

Cautionary Note Regarding Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. All statements, other than statements of historical fact, included herein including, without limitation; statements about the Company’s future plans, its goals and expectations, and the potential applications of its MyHeartTM platform are forward-looking statements. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the risks identified in the management discussion and analysis section of Novoheart Holdings Inc.’s interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulators. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the respective companies undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.