Callinex Grants Stock Options

Rhea-AI Summary

On March 5, 2021, Callinex Mines Inc. (OTC: CLLXF) announced the granting of 160,000 stock options to its directors, officers, and consultants. These options are exercisable at $5.00 per share, pending certain vesting requirements, and will expire five years from issuance. Callinex is known for its valuable portfolio of base and precious metals in Canada, particularly the Nash Creek and Superjack deposits in New Brunswick, presenting strong economic returns and significant exploration potential.

Positive

• Granting 160,000 stock options to key personnel may motivate management and align their interests with shareholders.
• The company's project portfolio has a strong economic outlook with a pre-tax IRR of 34.1% and NPV8% of $230 million.

Negative

• None.

VANCOUVER, BC, March 5, 2021 /PRNewswire/ -  Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) announces that it has granted 160,000 stock options to its directors, officers and consultants.  The options are exercisable at $5.00 per share, subject to certain vesting requirements and expire five years from the date of grant.

About Callinex Mines Inc.

Callinex Mines Inc. (TSXV: CNX) (OTC: CLLXF) is advancing its portfolio of base and precious metals rich deposits located in established Canadian mining jurisdictions. The portfolio is highlighted by its Nash Creek and Superjack deposits in the Bathurst Mining District of New Brunswick. A 2018 PEA outlined a mine plan that generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230 million ($128 million post-tax). The projects have significant exploration upside over a district-scale land package that encompasses several high-grade mineral occurrences along a 20km trend. Click here to view a video overview of the Nash Creek Project.

Callinex has a project portfolio that also includes projects within the Flin Flon Mining District of Manitoba that are located 25km to an operating processing facility that requires additional ore.

Neither the 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.

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete the proposed drill program and the timing and amount of expenditures. Except as required under applicable securities laws, Callinex does not assume the obligation to update any forward-looking statement.

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SOURCE Callinex Mines Inc.

FAQ

What stock options did Callinex grant on March 5, 2021?

Callinex granted 160,000 stock options to its directors, officers, and consultants, exercisable at $5.00 per share.

What is the significance of the stock options granted by Callinex?

The granting of stock options can motivate key personnel and align their interests with shareholders.

What are the key projects of Callinex Mines?

Callinex is focused on the Nash Creek and Superjack deposits located in New Brunswick, which have strong economic potential.

What is the economic return projected for Callinex's projects?

The pre-tax IRR for Callinex's projects is projected at 34.1%, with an NPV8% of $230 million.

What is the stock symbol for Callinex Mines?

The stock symbol for Callinex Mines is CLLXF.