CleanTech Issues Shares for Salaries to Align Management and Shareholder Interests

Rhea-AI Summary

CleanTech Vanadium Mining Corp (TSXV: CTV) (OTCQB: CTVFF) has issued 1,193,203 common shares to its senior management team as part of their Shares for Services Agreements, effective from November 1, 2024. This share issuance represents 15% of senior management salaries and follows previous announcements made on October 8, 2024, and November 14, 2024.

The issued securities are subject to a four-month regulatory hold period. The company has confirmed that these share issuances have not created a new Control Person.

Positive

• Management interests aligned with shareholders through salary-to-shares conversion
• No creation of new Control Person maintains current shareholder structure

Negative

• Share issuance of 1,193,203 shares causes dilution for existing shareholders

Vancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech" or the "Company") announces that the following CleanTech common shares were issued pursuant to the Shares for Services Agreements with its senior management team effective November 1, 2024 and detailed in the news releases dated October 8, 2024 and November 14, 2024 (the "Shares for Services Agreement").

Since November 1, 2024, 1,193,203 shares have been issued under the Shares for Services Agreements in lieu of 15% of senior management salaries.

The table below sets out each individual issuance:

Name of Officer	Date of Issuance	Number of Shares	CAD $ Amount	Deemed Price per Share
Alex Bayer (Bayer Law Corporation)	November 1, 2024	33,332	$1,250.00	$0.0375
Alex Bayer (Bayer Law Corporation)	December 1, 2024	37,037	$1,250.00	$0.03375
Rob Van Drunen	December 1, 2024	92,593	$3,125.00	$0.03375
John Lee	December 1, 2024	44,444	$1,500	$0.03375
Ron Espell	December 1, 2024	142,694	$4,812.50	$0.03375
Alex Bayer (Bayer Law Corporation)	January 2, 2025	41,667	$1,250.00	$0.03
Rob Van Drunen	January 2, 2025	104,167	$3,125.00	$0.03
John Lee	January 2, 2025	50,000	$1,500	$0.03
Ron Espell	January 2, 2025	164,874	$4,946.22	$0.03
Alex Bayer (Bayer Law Corporation)	February 3, 2025	55,556	$1,250.00	$0.0225
Rob Van Drunen	February 3, 2025	138,889	$3,125.00	$0.0225
John Lee	February 3, 2025	66,667	$1,500	$0.0225
Ron Espell	February 3, 2025	221,283	$4,78.88	$0.0225
TOTAL:		1,193,203	$28,716.60

 

Securities issued pursuant to the Shares for Services Agreement are subject to regulatory four month hold periods.

The Company confirms that these shares issuances have not resulted in the creation of a new Control Person.

About CleanTech Vanadium Mining Corp.

CleanTech is an exploration-stage mining company focused on vanadium and critical mineral resources. The Company owns a 100% interest in the Gibellini vanadium project in Nevada, United States.

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/241853

FAQ

How many shares did CleanTech Vanadium (CTVFF) issue for management salaries in February 2025?

CleanTech Vanadium issued 1,193,203 common shares to senior management, representing 15% of their salaries since November 1, 2024.

What is the hold period for CTVFF shares issued under the Shares for Services Agreement?

The shares issued under the Shares for Services Agreement are subject to a regulatory four-month hold period.

When did CleanTech Vanadium (CTVFF) implement the Shares for Services Agreement?

The Shares for Services Agreement became effective on November 1, 2024, following announcements made on October 8 and November 14, 2024.

What percentage of management salaries does CTVFF pay in shares?

CleanTech Vanadium pays 15% of senior management salaries in company shares under the Shares for Services Agreement.