Pearl River Announces Amended Stock Option Plan

LONDON, Ontario, Oct. 24, 2023 (GLOBE NEWSWIRE) -- PEARL RIVER HOLDINGS LIMITED ("Pearl River") (TSXV: PRH) announced that it has adopted an amended stock option plan (the "Amended Option Plan")?, subject to final approval of the TSX Venture Exchange (the "TSXV"). The Amended Option Plan was approved by the Pearl River's ?shareholders at its annual general and special meeting of shareholders held on October 13, 2023.? The Amended Plan is substantially the same as the previous stock option plan, however the Amended Plan allows for the exercise of stock options on a cashless and net exercise basis and contains other ?minor amendments to ensure compliance with TSXV Policy 4.4 ??? Security Based Compensation. The aggregate number of common shares that may be reserved for issuance under the Amended Plan must not exceed 5,461,985 common shares (20% of the Corporation's issued and outstanding shares) and there are currently 2,230,000 stock options outstanding.

For more information regarding the Amended Option Plan, please see Pearl River's 2023 Management Information Circular dated August 29, 2023 and filed under Pearl River's profile on SEDAR+ at www.sedarplus.ca.

About Pearl River

Through its subsidiaries, Pearl River's principal business is the manufacturing and distribution of plastic products in China, Australia and the United States of America.

For further information please contact:

George Lunick
CEO
T: (519) 645-0267
E: [email protected]

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.