On January 3, 2022 IMMUNOPRECISE ANTIBODIES LTD. ("IPA" or the "Company") (NASDAQ: IPA) (TSXV: IPA), a leader in full-service, therapeutic antibody discovery, reported that its board of directors has approved the grant of 28,250 stock options (the "Options") under its stock option plan to acquire up to an aggregate of 28,250 common shares in the capital of IPA ("Common Shares") (Press release, ImmunoPrecise Antibodies, JAN 3, 2022, View Source [SID1234597979]). Each of the three non-executive directors of IPA re-elected at the Company’s recent Annual General Meeting has been granted 5,650 Options and, consistent with the Company’s past practice for the first grant following election to the Company’s Board of Directors, Ms. Anna Pettersson, who was first elected at that Annual General Meeting, has been granted 11,300 Options. Each Option is exercisable for a period of five years from the date of grant at an exercise price of Cdn $6.89 per Common Share. One quarter of the Options granted to each director will vest every three months from the date of grant.

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