Callinex Grants Stock Options

Rhea-AI Summary

Callinex Mines Inc. (TSXV: CNX, OTC: CLLXF) has granted 375,000 stock options to its directors, officers, employees, and consultants. These options, exercisable at $3.50 per share, are subject to vesting requirements and expire in five years. The company focuses on base and precious metal deposits, notably the Nash Creek and Superjack deposits in New Brunswick, which have a pre-tax IRR of 34.1% and an NPV8% of $230 million. Callinex also holds projects in Manitoba, enhancing its potential within established mining jurisdictions.

Positive

• Granting of 375,000 stock options could enhance employee engagement and retention.
• Strong economic indicators for Nash Creek and Superjack deposits with a pre-tax IRR of 34.1%.
• $230 million pre-tax NPV8% signals robust project profitability.

Negative

• None.

VANCOUVER, BC, Sept. 14, 2020 /PRNewswire/ - Callinex Mines Inc. (the "Company" or "Callinex") (TSXV: CNX) (OTC: CLLXF) announces that it has granted 375,000 stock options to its directors, officers, employees and consultants.  The options are exercisable at $3.50 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.

View original content:http://www.prnewswire.com/news-releases/callinex-grants-stock-options-301130724.html

SOURCE Callinex Mines Inc.

FAQ

What is the significance of the stock options granted by Callinex (CLLXF) on Sept. 14, 2020?

On Sept. 14, 2020, Callinex granted 375,000 stock options, which enhances employee retention and potentially boosts company performance.

What are the financial metrics associated with Callinex's Nash Creek deposit?

The Nash Creek deposit has a pre-tax IRR of 34.1% and a pre-tax NPV8% of $230 million.

What is the exercise price for the stock options granted by Callinex (CLLXF)?

The stock options are exercisable at $3.50 per share.

How long are the stock options valid for Callinex (CLLXF)?

The stock options granted will expire in five years from the date of grant.