JEMTEC ADOPTS 2022 STOCK OPTION PLAN AND ISSUES GRANTS

VANCOUVER, BC, March 7, 2022 /CNW/ - JEMTEC Inc. (TSXV: JTC) (the "Company") wishes to announce that the Board of Directors has adopted a 10% fixed stock option plan (the "2022 Plan"). The 2022 Plan is subject to approval by the TSX Venture Exchange (the "Exchange").

Pursuant to the 2022 Plan, the Board of Directors may, from time to time, grant options to directors, officers, employees and consultants of the Company. Each option entitles the holder to acquire one common share of the Company at such price and on such terms as determined by the Board in accordance with the 2022 Plan. Subject to confirmation from the Exchange, the maximum number of options which may be issued pursuant to the 2022 Plan is 298,278.

The Company also announces that it has granted an aggregate of 139,000 options (consisting of 88,102 options under the 2018 Plan and 50,898 conditional grants under the 2022 Plan) to the directors of the Company at an exercise price of $2.09 per share. All options are subject to vesting over 2 years and expire 4 years after the date of grant. Options granted under the 2022 Plan may not be exercised until Exchange approval has been received.

FORWARD-LOOKING STATEMENTS

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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 release.

SOURCE Jemtec Inc.