Conavi Medical Announces New Grant of Stock Options

/EIN News/ -- TORONTO, June 03, 2025 (GLOBE NEWSWIRE) -- Conavi Medical Corp. (TSXV: CNVI; OTCQB: CNVIF) (“Conavi Medical” or the “Company”), announced that its board of directors (the “Board”) has approved grants of stock options (the “Stock Options”) Plan on June 2, 2025 pursuant to the terms of its Omnibus Equity Incentive Plan. A total of 5,849,098 Stock Options have been awarded to directors, officers, employees and consultants of the Company. The Stock Options are exercisable at a price of $0.39 CAD per share (being the closing price of the Company’s shares on the TSXV on June 2, 2025) for a period of 10 years from the date of the grant.

1,930,172 of such Stock Options were allocated as follows to the Company’s independent directors: 341,624 Stock Options to Anthony Giovinazzo, 341,624 Stock Options to Cathy Steiner, 330,807 Stock Options to Robert Mitchell, 358,242 Stock Options to Susan Allen and 557,875 Stock Options to Aaron Davidson.

3,581,216 of such Stock Options were allocated as follows to the Company’s officers: 298,413 Stock Options to Travis More, 266,863 Stock Options to Amandeep Thind, 393,924 Stock Options to Sumeet Dham, 425,000 Stock Options to Stefano Picone and 2,197,646 Stock Options to Thomas Looby.

The remaining Stock Options were granted to other employees and consultants.

The Company also announced minor changes to the composition of its Audit Committee, with Board Chair Aaron Davidson having stepped down from the Audit Committee and independent directors Susan Allen, Cathy Steiner and Robert Mitchell continuing to serve.

About Conavi Medical

Conavi Medical is focused on designing, manufacturing, and marketing imaging technologies to guide common minimally invasive cardiovascular procedures. Its patented Novasight Hybrid™ System is the first system to combine both intravascular ultrasound (IVUS) and optical coherence tomography (OCT) to enable simultaneous and co-registered imaging of coronary arteries. The Novasight Hybrid System has 510(k) clearance from the U.S. Food and Drug Administration; and regulatory approval for clinical use from Health Canada, China’s National Medical Products Administration, and Japan’s Ministry of Health, Labor and Welfare. For more information, visit http://www.conavi.com/.

Cautionary Statement Regarding Forward-Looking Information 

This news release contains “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws, which reflect the current expectations of management of Conavi’s future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements that appear in this release may include, without limitation, references to Conavi’s plans for the commercialization of its Novasight Hybrid™ System.

These forward-looking statements reflect management’s current beliefs with respect to future events, and are based on information currently available to management that, while considered reasonable by management as of the date on which the statements are made, are inherently subject to significant business, economic and competitive uncertainties and contingencies which could result in actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking statements. Forward-looking statements involve significant risks, uncertainties and assumptions and many factors could cause Conavi’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Such factors and assumptions include, but are not limited to, Conavi’s ability to retain key personnel; its ability to execute on its business plans and strategies; and other factors listed in the “Risk Factors” sections of the joint information circular of Conavi dated August 30, 2024 and in the final short form prospectus of Conavi dated April 15, 2025 (each of which may be viewed at www.sedarplus.com). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements.

Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions and Conavi has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, Conavi cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, Conavi expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Accordingly, investors should not place undue reliance on forward-looking statements. All the forward-looking statements are expressly qualified by the foregoing cautionary statements.

Neither the 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 press release.

Contacts

Stefano Picone
Chief Financial Officer
(416) 483-0100