Sirios Announces Closing of the First Tranche of a Private Placement of $269,250 - Seite 2

Stock Option Amendments
The Corporation also announces that at the annual and special meeting of its shareholders on December 18, 2023 (the “Meeting”), shareholders approved the renewal of the Corporation stock option plan (the “Option Plan”), as amended. Pursuant to the policies of the Exchange, the Option Plan is a “10% rolling” plan. The maximum aggregate number of Shares that may be reserved for issuance under the Option Plan is equal to 10% of the outstanding Shares. In order to comply with the new requirements of policy 4.4 of the Exchange, amendments have been made to the Option Plan to ensure that:

	(i)	all certificates representing options issued to directors, officers, and consultants shall bear a legend as described in the Option Plan;
	(ii)	in the event of the death of an option holder who is an employee, director, officer, consultant, or investor relations service provider, the options granted to them, or the remainder thereof, may be exercised by their heirs in accordance with the terms of their last will and testament or by their estate representative. Options must be exercised no later than either (i) the expiration date of the options or (ii) the expiration of a 12-month period following the date of the option holder's death, whichever occurs first;
	(iii)	in the event of an adjustment of options, where the event (as defined in the Option Plan) is not a share consolidation or share split, the adjustment of options remains subject to prior approval from the Exchange;
	(iv)	the administration of the Option Plan shall be the responsibility of the board of directors. The board may establish, amend, and terminate, at any time and from time to time, subject to Exchange approval as applicable, such rules as it considers necessary or desirable for the proper administration and operation of the Option Plan, and such rules shall be deemed part of the Option Plan. The board may delegate to a director, officer, or employee of the company such administrative functions and powers as it considers appropriate; and
	(v)	the application of section 6.2 shall be subject to prior approval from the Exchange for options held by option holders who are investor relations service providers, as defined by the Exchange's policies.

The full text of the Option Plan can be found in Schedule A of the Corporation's management and information circular, a copy of which can be found on the Corporation's SEDAR+ profile at  www.sedarplus.ca and on the Corporation’s web site: https://sirios.com/wp-content/uploads/2023/11/LMAU-SOI-circulaire-2023 .... The Option Plan remains subject to the final approval of the Exchange.