CleanTech Announces Shares for Salary with Senior Management to Align with Shareholder Interest
CleanTech Vanadium Mining has established a Shares for Services Agreement with its senior management team, effective November 1, 2024. Under this agreement, senior executives will convert 15% of their monthly salaries into company common shares. CEO John Lee will convert CAD1,500, President Ron Espell USD3,437, and COO Rob Van Drunen CAD3,125 monthly. The conversion price will be set at the Maximum Discounted Market Price, with up to 25% discount. The company retains the option to pay accrued amounts in cash, and the agreement requires TSX Venture Exchange approval. Issued shares will have a four-month hold period.
CleanTech Vanadium Mining ha stipulato un Accordo di Azioni per Servizi con il suo team di alta dirigenza, valido a partire dal 1° novembre 2024. In base a questo accordo, i dirigenti senior convertiranno il 15% dei loro stipendi mensili in azioni ordinarie dell'azienda. Il CEO John Lee convertirà 1.500 CAD, il Presidente Ron Espell 3.437 USD e il COO Rob Van Drunen 3.125 CAD mensili. Il prezzo di conversione sarà fissato al Prezzo di Mercato Massimo Scontato, con uno sconto fino al 25%. L'azienda mantiene l'opzione di pagare importi maturati in contante e l'accordo richiede l'approvazione del TSX Venture Exchange. Le azioni emesse avranno un periodo di blocco di quattro mesi.
CleanTech Vanadium Mining ha establecido un Acuerdo de Acciones por Servicios con su equipo de alta dirección, efectivo a partir del 1 de noviembre de 2024. Bajo este acuerdo, los ejecutivos séniores convertirán el 15% de sus salarios mensuales en acciones ordinarias de la empresa. El CEO John Lee convertirá 1.500 CAD, el Presidente Ron Espell 3.437 USD y el COO Rob Van Drunen 3.125 CAD mensuales. El precio de conversión se fijará al Precio de Mercado Máximo Descontado, con hasta un 25% de descuento. La empresa mantiene la opción de pagar montos acumulados en efectivo, y el acuerdo requiere la aprobación del TSX Venture Exchange. Las acciones emitidas tendrán un período de retención de cuatro meses.
클린테크 바나듐 광업은 2024년 11월 1일부터 발효되는 경영진과의 서비스 대가로 주식 계약을 체결했습니다. 이 계약에 따라 고위 임원들은 월 급여의 15%를 회사의 보통주로 전환합니다. CEO 존 리는 1,500 CAD, 사장 론 에스펠은 3,437 USD, COO 롭 반 드루넨은 매달 3,125 CAD를 전환합니다. 전환 가격은 최대 할인된 시장 가격으로 설정되며, 최대 25% 할인 가능합니다. 회사는 미지급 금액을 현금으로 지급할 옵션을 보유하고 있으며, 해당 계약은 TSX 성장 거래소의 승인을 요구합니다. 발행된 주식은 4개월의 보유 기간이 있습니다.
CleanTech Vanadium Mining a établi un Accord d'Actions pour Services avec son équipe de direction, en vigueur à partir du 1er novembre 2024. En vertu de cet accord, les cadres supérieurs convertiront 15 % de leurs salaires mensuels en actions ordinaires de l'entreprise. Le PDG John Lee convertira 1.500 CAD, le Président Ron Espell 3.437 USD et le COO Rob Van Drunen 3.125 CAD par mois. Le prix de conversion sera fixé au Prix de Marché Maximum Remisé, avec une remise pouvant atteindre 25 %. L'entreprise conserve la possibilité de payer les montants accumulés en espèces, et l'accord nécessite l'approbation de la Bourse de croissance TSX. Les actions émises auront une période de blocage de quatre mois.
CleanTech Vanadium Mining hat einen Aktien-gegen-Dienstleistungen-Vertrag mit seinem Führungsteam abgeschlossen, der ab dem 1. November 2024 in Kraft tritt. Laut diesem Vertrag werden leitende Angestellte 15% ihres monatlichen Gehalts in Stammaktien des Unternehmens umwandeln. CEO John Lee wird 1.500 CAD, Präsident Ron Espell 3.437 USD und COO Rob Van Drunen monatlich 3.125 CAD umwandeln. Der Umwandlungspreis wird zum maximalen rabattierten Marktpreis festgelegt, mit einem Rabatt von bis zu 25%. Das Unternehmen behält sich die Option vor, aufgelaufene Beträge in bar zu zahlen, und das Abkommen erfordert die Genehmigung der TSX Venture Exchange. Die ausgegebenen Aktien unterliegen einer viermonatigen Haltedauer.
- Management alignment with shareholder interests through salary-to-shares conversion
- Company preserves cash by paying portion of salaries in shares
- Potential dilution of existing shareholders through monthly share issuance
- 25% discount on share price conversion represents value loss for existing shareholders
Vancouver, British Columbia--(Newsfile Corp. - November 25, 2024) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech" or the "Company") is pleased to announce that it has entered into a Shares for Services Agreement with its senior management team effective November 1, 2024 (the "Shares for Services Agreement"). Pursuant to the terms of the Shares for Services Agreement, the senior management team has agreed to convert
John Lee, the Company's CEO and Chairman agreed to accrue CAD1,500 of his monthly salary, Ron Espell, the Company's President agreed to accrue USD3,437 of his monthly salary and Rob Van Drunen, the Company's Chief Operating Officer agreed to accrue CAD3,125 of his monthly salary.
Each of the above accruals shall convert into Common Shares on a monthly basis at a deemed price equal to the Maximum Discounted Market Price (as such term is defined in Policy 1.1 of the TSX Venture Exchange), up to a maximum discount of
The Shares for Services Agreement is subject to TSX Venture Exchange approval. Securities issued pursuant to the Shares for Services Agreement will be subject to regulatory four month hold periods.
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company focused on vanadium and critical mineral resources. The Company owns a
Further information on CleanTech can be found at www.cleantechvanadium.com.
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Chief Executive Officer
For more information about CleanTech, please contact:
Suite 1610 – 409 Granville Street
Vancouver, BC V6C 1T2
Phone: 1.877.664.2535
Email: info@cleantechvanadium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts 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/231315
FAQ
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