Beretta Ventures Announces Reinstatement of Trading and Anticipated Changes in Accordance With New CPC Policy Which Became Effective on January 1, 2021

About this update from Beretta Ventures Ltd.

[{"type":"text","content":"Beretta Ventures Announces Reinstatement of Trading and Anticipated Changes in Accordance With New CPC Policy Which Became Effective on January 1, 2021VANCOUVER, BC / ACCESSWIRE / March 2, 2021 / Beretta Ventures Ltd. (the \"Company\") (TSXV:BRTA.H) announces that due to changes recently announced by the TSX Venture Exchange (the \"Exchange\") to its Capital Pool Company program and changes to the Exchange's Policy 2.4 - Capital Pool Companies, which became effective as at January 1, 2021 (the \"New CPC Policy\"), the Company intends to implement certain amendments, some of which require disinterested shareholder approval, to further align its policies with the New CPC Policy.Pursuant to the New CPC Policy, in order for the Company to align certain of its policies with the New CPC Policy the Company intends to obtain the approval of its disinterested shareholders for the following matters: (i) amendment of the Company's Stock Option Plan (the \"Option Plan\") to, among other things, become a \"10% rolling\" plan prior to the Company completing a Qualifying Transaction (\"QT\"); and (ii) to amend the escrow release conditions and certain other provisions of the Company's Escrow Agreement (the \"Escrow Agreement\"). These proposed amendments are described in further detail below.The amendments to the Option Plan will: (i) allow the total number of common shares of the Company (the \"Shares\") reserved for issuance as options not to exceed 10% of the Shares issued and outstanding as at the date of grant, rather than at the closing date of the initial public offering (\"IPO\"), for options issued prior to the QT; (ii) allow the number of Shares reserved for issuance as options to any individual director or senior officer not to exceed 5% of the Shares outstanding as at the date of grant, rather than at the closing date of the IPO, for options issued prior to the QT; (iii) allow the number of Shares reserved for issuance as option to Consultants, as defined in the Option Plan, not to exceed 2% of the Shares outstanding as at the date of grant, rather than at the closing date of the IPO, for options issued prior to the QT; and (iv) require, prior to the granting of options, the optionee to first enter into an escrow agreement agreeing to deposit the options, and the Shares acquired pursuant to the exercise of such options, into escrow...

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