- Steep Hill (STPH) has signed a licensing agreement with SH Lab Holdings LLC, expanding its network of licensees to the state of Vermont
- The licenses were for purposes of operating a laboratory for testing cannabis, hemp and cannabis and hemp-derived products in the state of Vermont under the Steep Hill brand
- Also Steep Hill has granted an aggregate of 9,000,000 options to certain directors, officers, employees, and consultants of the company
- Steep Hill is a science and technology company focused on providing products and services
- Steep Hill Inc. remained unchanged at $0.02 when the market opened today
Steep Hill (STPH) has entered into a licensing agreement with SH Lab Holdings LLC for a licensed lab in Vermont.
Under the terms of the license agreement, Steep Hill (US), granted Steep Hill Vermont exclusive licenses with respect to Steep Hill’s know-how and procedures.
The licenses were for purposes of operating a laboratory for testing cannabis, hemp and cannabis and hemp-derived products under the Steep Hill brand.
“We are delighted to partner with Steep Hill Vermont, which has a dynamic, entrepreneurial team with a comprehensive industrial, scientific, and business management background and a rich experience in the cannabis industry,” said Steep Hill CEO, Sameet Kanade
“We look forward to working with them to bring robust safety compliance testing to Vermont’s medical patients and adult consumers,” he added.
“Working with the State of Vermont, our laboratory plans to expand cannabis testing services, while offering quick turnaround times and educational resources for cultivators, manufacturers, and other industry participants,” noted Steep Hill Vermont’s Lab Director, Callie Chapman.”
“Our goal is to be a key partner in the success of the Green Mountain State’s adult use market and continue to grow our industry,” he added.
Furthermore, Steep Hill has executed the grant of stock options in accordance with the company’s stock option plan. The company has granted an aggregate of 9,000,000 options to certain directors, officers, employees, and consultants of the company, including executives and employees at its wholly-owned subsidiary, Steep Hill (US) Inc.
The options are exercisable at a price of $0.08 per option. The options granted vest in four months and expire on May 3, 2025. Each Option is exercisable to purchase one common share in the capital of the company.
Steep Hill is a science and technology company focused on providing products and services, including analytical testing services within the hemp and cannabis market sectors.
Steep Hill Inc. remained unchanged at $0.02 when the market opened today.