Ann: Final agreements signed for acquisition of SPD Vanadium, page-6

the original agreement announced on the 22nd March 2018 states the following:

Tando will also issue 7,000,000 options to the Vendors and 13,000,000 options to advisors that
have assisted with implementation of the transaction and associated capital raising (exercisable at $0.50 on or before the date that is 3 years following the date of issue).

The options to Otsana and Xcel you refer to equate to the 13 million options pre share split as per above so everyone knew about this 4 months ago and the options were out of the money at the time.