VANCOUVER, BC – January 11, 2021 – Izotropic Corporation (“Izotropic” or the “Company”) (CSE: IZO) (OTC US: IZOZF) (FSE: 1R3) announces it has issued 1,550,000 Restricted Stock Units (“RSU” or “RSUs”) to advisors, consultants and a director, and 500,000 Performance Stock Units (“PSU” or “PSUs”) to the Company’s Commercial Operations Executive.
Further to the Company’s news release dated July 10, 2020, the Company adopted a Long Term Equity Incentive Plan (“LTIP”), wherein the Company may grant up to 10% of the total amount of issued common shares to key individuals as a way of providing long term and performance (milestone) based incentives. The LTIP will be utilized as the Company’s primary tool to reward value-based performance from scientists, advisors and consultants who contribute to making breast CT an indispensable tool for improving the outcomes of breast cancer.
The RSUs vest on the following schedule:
- 662,500 RSUs on January 11, 2021;
- 262,500 RSUs on July 11, 2021;
- 262,500 RSUs on January 11, 2022;
- 262,500 RSUs on July 11, 2022;
- 100,000 RSUs in increments of 50,000 upon completion of milestones related to the development of the Company’s commercial breast CT imaging system
The PSUs vest on the following schedule:
- 225,000 PSUs upon FDA submission;
- 225,000 upon first sale of the Company’s breast CT imaging system
ON BEHALF OF THE BOARD
Chief Executive Officer
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About Izotropic Corporation
Izotropic Corporation is commercializing dedicated breast CT imaging technology for the earlier detection, diagnosis and treatment of breast cancers. Extensive preliminary studies have found that breast CT may be able to routinely detect small breast tumors in the 3-5 mm size range. The median size of breast cancer found using mammography is approximately 11 mm. Routine detection of 3 mm lesions would result in 1.5 year earlier detection over mammography.
The initial indication for use for breast CT as a diagnostic device has been confirmed. Forthcoming business objectives include identifying additional indications for use, development of accessories, and additional products, all aimed at making breast CT an indispensable tool for improving the outcomes of breast cancer.
Forward Looking Statements
This document may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.