Quebec Precious Metals Issues Deferred Shares Units and Grants Stock Options

Rhea-AI Summary

Quebec Precious Metals Corporation (CJCFF) has issued 502,033 deferred stock units (DSUs) to officers and one employee under its DSU Plan, with immediate vesting. Additionally, the Company granted 1,275,000 stock options, primarily to directors and officers, at a price of $0.29 per share for a five-year term, with a gradual vesting schedule over two years. These actions align with the Company's strategy to incentivize its management while ensuring that the amendments to the Stock Option Plan receive approval from the TSX Venture Exchange.

Positive

• Issuance of 502,033 DSUs to employees and officers may enhance management retention.
• Granting 1,275,000 stock options incentivizes directors and officers to drive company performance.

Negative

• Stock options granted at a price of $0.29 may indicate a perceived low valuation.
• The requirement for TSX Venture Exchange approval of amendments may cause operational delays.

MONTREAL, QC / ACCESSWIRE / February 22, 2021 / Quebec Precious Metals Corporation (TSXV:QPM)(FSE:YXEP)(OTCQB:CJCFF) ("QPM" or the "Company") announces the issuance of 502,033 deferred stock units (the "DSUs") to officers and one employee pursuant to its Deferred Share Unit Plan (the "DSU Plan") approved by QPM's disinterested shareholders at its last annual and special meeting held on October 20, 2020. In accordance with the DSU Plan, the DSUs vest immediately upon issuance and are payable in common shares of the Company, or in cash at the sole discretion of the Company, upon the holder ceasing to be an employee of the Company.

The Company also announces that it has granted an aggregate of 1,275,000 stock options (the "Options") of the Company. Of this number, 1,015,000 have been granted to its directors and officers, and 50,000 to one consultant. Each Option entitles its holder to purchase one common share of the Company at a price of $0.29 per share for a five-year period. The Options vest gradually over a period of twenty-four (24) months following the date of grant as follows: one third at the date of grant, one-third at the first anniversary of the date of grant, and one-third at the second anniversary of the date of grant. Options granted to the consultant are exercisable for a two-year period and will vest immediately.

Options are granted in accordance with Policy 4.4 of the TSX Venture Exchange (the "Exchange") and the terms and conditions of the Company's stock option plan (the "Stock Option Plan"), as amended by the Company as at the date hereof. The amendments are of an administrative nature and include, notably, the vesting of options gradually over a period of twenty-four (24) months following the date of grant. The Stock Option Plan amendments are subject to approval by the Exchange.

About Quebec Precious Metals Corporation

QPM is a gold explorer with a large land position in the highly-prospective Eeyou Istchee James Bay territory, Quebec, near Newmont Corporation's Éléonore gold mine. QPM's flagship project is the Sakami project with significant grades and well-defined drill-ready targets. QPM's goal is to rapidly explore the project to advance it to the mineral resource estimate stage.

For more information please contact:

Jean-François Meilleur
President
Tel.: 514 951-2730
jfmeilleur@qpmcorp.ca

Normand Champigny
Chief Executive Officer
Tel.: 514 979-4746
nchampigny@qpmcorp.ca

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

SOURCE: Quebec Precious Metals Corporation

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https://www.accesswire.com/630817/Quebec-Precious-Metals-Issues-Deferred-Shares-Units-and-Grants-Stock-Options

FAQ

What does the recent press release from Quebec Precious Metals Corporation (CJCFF) announce?

Quebec Precious Metals Corporation announced the issuance of 502,033 deferred stock units and the granting of 1,275,000 stock options to its officers and employees.

What are the terms of the stock options granted by Quebec Precious Metals Corporation (CJCFF)?

The stock options granted are exercisable at $0.29 per share for a five-year period, with gradual vesting over 24 months.

How many deferred stock units were issued by Quebec Precious Metals Corporation (CJCFF)?

A total of 502,033 deferred stock units were issued to officers and one employee.

What is the purpose of the stock options and deferred stock units issued by Quebec Precious Metals Corporation (CJCFF)?

These instruments are aimed at incentivizing management and aligning their interests with shareholder performance.

What needs approval from the TSX Venture Exchange in Quebec Precious Metals Corporation's (CJCFF) recent actions?

The amendments to the Stock Option Plan, relating to the vesting of options, are subject to approval by the TSX Venture Exchange.