Cordoba Minerals Grants Equity Incentive Awards

Rhea-AI Summary

Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) has announced the granting of equity incentive awards. The Board of Directors has approved a total of 709,823 common shares in the form of 256,529 stock options and 453,294 deferred share units (DSUs) to certain directors.

The stock options are exercisable at $0.455 per common share with a vesting schedule of 1/3 on the grant date, 1/3 after six months, and the final 1/3 after one year. These options have a five-year expiration period. The DSUs will be redeemable upon the retirement or replacement of a director.

Positive

• Granting of equity incentives may align directors' interests with shareholders
• Vesting schedule of stock options encourages long-term commitment

Negative

• Potential dilution of existing shareholders' ownership due to new share issuance

Vancouver, British Columbia--(Newsfile Corp. - October 18, 2024) - Cordoba Minerals Corp. (TSXV: CDB) (OTCQB: CDBMF) (otherwise "Cordoba" or the "Company") announces today that pursuant to its Stock Option Plan, Long Term Incentive Plan and Deferred Share Unit Plan, the Board of Directors have approved an aggregate of 256,529 stock options ("Stock Options"), and 453,294 deferred share units ("DSUs"), to certain directors to acquire up to an aggregate of 709,823 common shares in the capital of the Company.

256,529 Stock Options were granted to directors to purchase up to an aggregate 256,529 common shares of the Company. The Stock Options are exercisable at a price of $0.455 per common share and will vest 1/3 on the date of the grant, with additional 1/3 vesting six (6) months after the date of the grant, and the remaining 1/3 vesting one (1) year after the date of the grant. The Stock Options expire five (5) years from the date of the grant.

453,294 DSUs were granted to the directors, and will be redeemable upon the retirement or replacement of a director.

About Cordoba

Cordoba Minerals Corp. is a mineral exploration company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is jointly developing the Alacran Project with JCHX Mining Management Co., Ltd., located in the Department of Cordoba, Colombia. Cordoba also holds a 51% interest in the Perseverance Copper Project in Arizona, USA, which it is exploring through a Joint Venture and Earn-In Agreement. For further information, please visit www.cordobaminerals.com.

ON BEHALF OF THE COMPANY
Sarah Armstrong-Montoya, President and Chief Executive Officer

Information Contact

Ran Li +1-604-689-8765
info@cordobamineralscorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227152

FAQ

How many stock options and DSUs did Cordoba Minerals (CDBMF) grant on October 18, 2024?

Cordoba Minerals granted 256,529 stock options and 453,294 deferred share units (DSUs) to certain directors, totaling 709,823 common shares.

What is the exercise price of the stock options granted by Cordoba Minerals (CDBMF)?

The stock options granted by Cordoba Minerals are exercisable at a price of $0.455 per common share.

What is the vesting schedule for the stock options granted by Cordoba Minerals (CDBMF)?

The stock options vest 1/3 on the grant date, 1/3 after six months, and the remaining 1/3 one year after the grant date.

When do the stock options granted by Cordoba Minerals (CDBMF) expire?

The stock options granted by Cordoba Minerals expire five years from the date of the grant.