Greenlane Renewables Inc. ("Greenlane") (TSXV: GRN / FSE: 52G) today announced that it has entered into an investor relations agreement with Bristol Capital Ltd. ("Bristol") to provide investor relations and communication services (the "Agreement"). Bristol will provide investor relations services to Greenlane, including introductions to Bristol's direct network of investment professionals, coordination of public events and proactive investor relations campaigns to increase Greenlane's exposure in the investment community.
Bristol has been retained for an initial term of twelve (12) months commencing on October 15, 2020 ("Effective Date"), with automatic renewal, subject to early termination under certain circumstances. In consideration of the services to be provided by Bristol, Greenlane will pay Bristol a monthly fee ranging from CDN$7,000 and CDN$10,000 depending on the level of services provided by Bristol to Greenlane in each month. In addition, Greenlane agreed to issue stock options to Bristol to acquire up to 150,000 common shares under Greenlane's share option plan (the "Options") with an exercise price equal to the closing price per Greenlane common share listed on the TSX Venture Exchange, following the expiration of the current blackout period which is expected to occur upon the release of Greenlane's Q3 financial statements. A quarter of the Options shall vest every three (3) months for the initial term of the Agreement. The Company will continue to retain Incite Capital Markets for investor relations and communication services in addition to Bristol.
About Greenlane Renewables
Greenlane Renewables is a leading global provider of biogas upgrading systems that are helping decarbonize natural gas. Our systems produce clean, low-carbon renewable natural gas from organic waste sources including landfills, wastewater treatment plants, dairy farms, and food waste, suitable for either injection into the natural gas grid or for direct use as vehicle fuel. Greenlane is the only biogas upgrading company offering the three main technologies: water wash, pressure swing adsorption, and membrane separation. With over 30 years industry experience, patented proprietary technology, and over 100 biogas upgrading units supplied into 18 countries worldwide, including the world's largest biogas upgrading facility, Greenlane is inspired by a commitment to helping waste producers improve their environmental impact, green credentials, and bottom line. For further information, please visit www.greenlanerenewables.com.