Metalite Resources Inc. Changes Auditor and Grants Incentive Stock Options

Rhea-AI Summary

Metalite Resources Inc. announces a change in auditors and the granting of incentive stock options. The Former Auditor, Crowe MacKay LLP, has been replaced by DNTW Toronto LLP. The Company has also granted 1,150,000 common shares in the capital of the Company as Options, with 900,000 Options granted to certain directors and officers. All Options are fully vested and exercisable for a five-year term at an exercise price of $0.05.

TORONTO, ON / ACCESSWIRE / January 26, 2024 / Metalite Resources Inc. (CSE:METL) (OTC PINK:JNCCF) (Frankfurt:5VHA) ("Metalite" or the "Company") announces today it has changed its auditor from Crowe MacKay LLP., Chartered Professional Accountants (the "Former Auditor") to DNTW Toronto LLP, Chartered Professional Accountants ("Successor Auditor") effective January 12, 2024. The Former Auditor resigned on its own initiative as the auditor of the Company, and the board of directors appointed the Successor Auditor as the Company's auditor, until the next annual General Meeting of the Company.

There were no reservations in the Former Auditor's audit reports for any financial year during which the Former Auditor was the Company's auditor. There are no ‘reportable events" (as the term is defined in National instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102")) between the Company and the Former Auditor.

In accordance with NI 51-102, the notice of change of auditor, together with the required letter from the Former Auditor and the Successor Auditor, will be filed on SEDAR+ at www.sedarplus.ca in the coming days.

The Company further wishes to announce it has granted incentive stock options to certain directors, officers, employees and consultants of the Company to acquire an aggregate of 1,150,000 common shares in the capital of the Company at an exercise price of $0.05 (the "Options") in accordance with its Equity Incentive Plan.

Of the total Options granted, 900,000 Options have been granted to certain directors and officers of the Company. All Options are fully vested as at the date of grant and exercisable for a five-year term expiring January 24, 2029.

About Metalite Resources Inc.

Metalite Resources Inc. is a Canadian junior mineral exploration issuer with a precious metals-focused project in NSW, Australia.

For further information please contact:
info@metaliteresources.com

To learn more, please visit https://www.metaliteresources.com/ .

Forward-Looking Statements

This news release contains certain "forward-looking statements." All statements, other than statements of historic fact, that address activities, events or developments that Metalite believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek," "anticipate," "believe," "plan," "estimate, "expect," and "intend" and statements that an event or result "may," "will," "can," "should," "could," or "might" occur or be achieved and other similar expressions. These forward-looking statements reflect the current expectations or beliefs of Metalite based on information currently available to Metalite. Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of Metalite to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Metalite. Forward looking statements in this press release include statements regarding the proposed issuance of Common Shares in settlement of outstanding debts and the timing thereof. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Metalite disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Metalite believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release

SOURCE: Metalite Resources Inc

View the original press release on accesswire.com

FAQ

What is the recent announcement from Metalite Resources Inc.?

Metalite Resources Inc. has announced a change in auditors and the granting of incentive stock options.

Who is the new auditor for Metalite Resources Inc.?

The new auditor for Metalite Resources Inc. is DNTW Toronto LLP, replacing Crowe MacKay LLP.

How many common shares have been granted as Options by Metalite Resources Inc.?

Metalite Resources Inc. has granted 1,150,000 common shares in the capital of the Company as Options.

To whom have the Options been granted by Metalite Resources Inc.?

The Options have been granted to certain directors, officers, employees, and consultants of Metalite Resources Inc.

What is the exercise price of the Options granted by Metalite Resources Inc.?

The exercise price of the Options granted by Metalite Resources Inc. is $0.05.