Luminex Announces Granting of Options

Rhea-AI Summary

Luminex Resources Corp. (OTCQX: LUMIF) announced the granting of 1,387,000 stock options to directors, officers, employees, and consultants at an exercise price of $0.51 per share, expiring on November 25, 2026. Of these, 1,357,000 options will vest in three equal parts over two years, while 30,000 options will vest over four equal parts in the same period. Additionally, the Company renewed its contract with First Globe Capital for another year, compensating them with stock options and covering incidental expenses.

Positive

• Granting of 1,387,000 stock options could align employee incentives with company growth.
• Renewal of the agreement with First Globe Capital may enhance investor relations and fundraising efforts.

Negative

• None.

VANCOUVER, BC, Nov. 25, 2021 /PRNewswire/ - Luminex Resources Corp. (TSXV: LR) (OTCQX: LUMIF) (the "Company" or "Luminex") announces that it has granted incentive stock options under the Company's stock option plan to certain directors, officers, employees and consultants of the Company to purchase up to an aggregate of 1,387,000 common shares of the Company. The options are exercisable at a price of $0.51 per share and will expire on November 25, 2026. 1,357,000 of the options will vest in three equal parts over the first two years after grant and 30,000 options (the "First Globe Options") will vest in four equal parts over the first two years after grant.

Additionally, the Company has renewed its agreement with First Globe Capital International Inc. ("First Globe") that was announced on October 5, 2018, for an additional 12 months. First Globe is based out of Vancouver, British Columbia, and is owned by Anish Sunderji. First Globe provides institutional fundraising and advisory services to its clients. The Company has compensated First Globe for its services by granting the First Globe Options described above. In addition, the Company has also agreed to reimburse First Globe for its reasonable incidental expenses incurred in providing the investor relation services to the Company. First Globe does not otherwise have any relationship with or hold any securities of the Company, except for previously granted stock options.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR, OTCQX:LUMIF) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex's inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American respectively.

Further details are available on the Company's website at https://luminexresources.com/.

To receive future news releases please sign up at https://www.luminexresources.com/contact/contact-us/.

LUMINEX RESOURCES CORP.

Signed: "Marshall Koval"

Marshall Koval, CEO and Director

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 news release.

View original content:https://www.prnewswire.com/news-releases/luminex-announces-granting-of-options-301431996.html

SOURCE Luminex Resources Corp.

FAQ

What are the details of the stock options granted by Luminex Resources Corp (LUMIF)?

Luminex granted a total of 1,387,000 stock options at $0.51 per share, with a vesting schedule over two to four years.

What is the expiry date for the stock options granted by Luminex (LUMIF)?

The stock options will expire on November 25, 2026.

Who is First Globe Capital in relation to Luminex Resources Corp (LUMIF)?

First Globe Capital provides institutional fundraising and advisory services and has had its agreement renewed with Luminex for another year.