Full Press Release Details
Bacterin Reports Inducement
with Section 711(a) of the NYSE MKT Company Guide
MT, August 21, 2013 -- Bacterin International Holdings, Inc. (NYSE MKT: BONE), a leader in the development of revolutionary
bone graft material and coatings for medical applications, today announced an inducement grant to the Company's new Chief
Executive Officer, Daniel Goldberger, as an inducement material to entering into employment with the Company pursuant to
Section 711(a) of the NYSE MKT Company Guide. The inducement grant was approved by the Compensation
Committee of the Company's Board of Directors.
On August 7, 2013, Bacterin
previously announced the selection of Mr. Goldberger as the Company's new Chief Executive Officer, and Mr. Goldberger's
employment officially began on August 14, 2013. Mr. Goldberger's inducement grant consists of a stock option to purchase
up to 2,000,000 shares of the Company's common stock, with a per share exercise price of $0.60, which was the closing price of
the Company's common stock on the August 14, 2013 grant date. The option will vest over five years, with 20% of the underlying
shares vesting after one year and the remaining eighty percent (80%) vesting in forty-seven (47) equal monthly installments as
to 33,334 underlying shares, beginning September 15, 2014, and one final installment as to 33,302 underlying shares.
Mr. Goldberger must remain
continuously employed by the Company in order to exercise the vested portion of his option. In the event of termination of Mr.
Goldberger's employment other than for Cause (including without limitation by reason of Mr. Goldberger's death or
disability which results in Mr. Goldberger's inability to perform substantially all of the duties of his position for more
than 120 consecutive days) or resignation of Mr. Goldberger for Good Reason (as those terms are defined in Section 12 of Mr. Goldberger's
Employment Agreement) the Option will expire ninety (90) days after the effective date of cessation of Mr. Goldberger's
employment. In the event of termination of Mr. Goldberger's employment for Cause or Mr. Goldberger's resignation
for other than Good Reason, the Option will expire at the effective date and time of cessation of Mr. Goldberger's employment.
About Bacterin International
Bacterin International
Holdings, Inc. (NYSE MKT: BONE) develops, manufactures and markets biologics products to domestic and international markets. Bacterin's
proprietary methods optimize the growth factors in human allografts to create the ideal stem cell scaffold to promote bone, subchondral
repair and dermal growth. These products are used in a variety of applications including enhancing fusion in spine surgery, relief
of back pain, promotion of bone growth in foot and ankle surgery, promotion of cranial healing following neurosurgery and subchondral
repair in knee and other joint surgeries.
Bacterin's Medical Device
division develops, employs, and licenses coatings for various medical device applications. For further information, please visit
Important Cautions Regarding Forward-looking
This news release contains certain disclosures
that may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are
subject to significant risks and uncertainties. Forward-looking statements include statements that are predictive in nature, that
depend upon or refer to future events or conditions, or that include words such as "continue," "efforts," "expects,"
"anticipates," "intends," "plans," "believes," "estimates," "projects,"
"forecasts," "strategy," "will," "goal," "target," "prospects," "potential,"
"optimistic," "confident," "likely," "probable" or similar expressions or the negative
thereof. Statements of historical fact also may be deemed to be forward-looking statements. We caution that these statements by
their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors,
including, among others: the Company's ability to launch beta and full product releases; the Company's ability to meet its obligations
under existing and anticipated contractual obligations; the Company's ability to develop, market, sell and distribute desirable
applications, products and services and to protect its intellectual property; the ability of the Company's sales force to achieve
expected results; the ability of the Company's customers to pay and the timeliness of such payments, particularly during recessionary
periods; the Company's ability to obtain financing as and when needed; changes in consumer demands and preferences; the Company's
ability to attract and retain management and employees with appropriate skills and expertise; the impact of changes in market,
legal and regulatory conditions and in the applicable business environment, including actions of competitors; and other factors.
Additional risk factors are listed in the Company's Quarterly Reports on Form 10-Q and Annual Report on Form 10-K under the heading
"Risk Factors." The Company undertakes no obligation to release publicly any revisions to any forward-looking statements
to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required