Magna Mining Announces Corporate Updates and Grant of Stock Options and RSUs
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) has announced several corporate updates. The company has appointed Tim Bradburn as Senior Vice President, General Counsel and Corporate Secretary, bringing over 20 years of experience from his previous role at IAMGOLD
Regarding the NorthX asset acquisition agreement from December 18, 2024, the company reports positive progress and targets closing in May 2025. The company has completed its 2024 drilling programs at Crean Hill and Shakespeare, with final assay results received and ongoing data interpretation. Currently, exploration drilling is active at the Levack Mine with two diamond drills operating and a third scheduled to start.
The company has granted 150,000 stock options to officers and employees at an exercise price of $1.40 per share, expiring April 9, 2030, with a phased vesting schedule. Additionally, 40,000 restricted share units were granted with a 3-year vesting period.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha annunciato diversi aggiornamenti aziendali. L'azienda ha nominato Tim Bradburn come Vicepresidente Senior, Consigliere Generale e Segretario Aziendale, portando con sé oltre 20 anni di esperienza dal suo precedente ruolo in IAMGOLD.
Riguardo all'accordo di acquisizione dell'asset NorthX del 18 dicembre 2024, l'azienda riporta progressi positivi e punta a concludere l'operazione a maggio 2025. L'azienda ha completato i suoi programmi di perforazione per il 2024 a Crean Hill e Shakespeare, con i risultati finali delle analisi ricevuti e l'interpretazione dei dati in corso. Attualmente, la perforazione esplorativa è attiva presso la Levack Mine, con due trivelle a diamante in funzione e una terza prevista per l'inizio.
L'azienda ha concesso 150.000 opzioni su azioni a dirigenti e dipendenti a un prezzo di esercizio di $1,40 per azione, in scadenza il 9 aprile 2030, con un programma di maturazione in fasi. Inoltre, sono state concesse 40.000 unità di azioni vincolate con un periodo di maturazione di 3 anni.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) ha anunciado varias actualizaciones corporativas. La compañía ha nombrado a Tim Bradburn como Vicepresidente Senior, Asesor General y Secretario Corporativo, aportando más de 20 años de experiencia de su anterior cargo en IAMGOLD.
En relación con el acuerdo de adquisición del activo NorthX del 18 de diciembre de 2024, la compañía informa de avances positivos y tiene como objetivo cerrar en mayo de 2025. La empresa ha completado sus programas de perforación de 2024 en Crean Hill y Shakespeare, con los resultados finales de los análisis recibidos y la interpretación de datos en curso. Actualmente, la perforación exploratoria está activa en la Levack Mine, con dos perforadoras de diamante en funcionamiento y una tercera programada para comenzar.
La compañía ha otorgado 150,000 opciones sobre acciones a funcionarios y empleados a un precio de ejercicio de $1.40 por acción, que expiran el 9 de abril de 2030, con un calendario de adquisición en fases. Además, se otorgaron 40,000 unidades de acciones restringidas con un período de adquisición de 3 años.
마그나 마이닝 (TSXV: NICU) (OTCQB: MGMNF)는 여러 기업 업데이트를 발표했습니다. 이 회사는 팀 브래드번을 선임 부사장, 법률 고문 및 기업 비서로 임명했으며, IAMGOLD에서의 이전 역할에서 20년 이상의 경험을 가져왔습니다.
2024년 12월 18일의 NorthX 자산 인수 계약과 관련하여, 회사는 긍정적인 진행 상황을 보고하며 2025년 5월에 마무리할 계획입니다. 회사는 Crean Hill과 Shakespeare에서 2024년 드릴링 프로그램을 완료했으며, 최종 분석 결과를 수신하고 데이터 해석이 진행 중입니다. 현재 Levack Mine에서 탐사 드릴링이 활발히 진행되고 있으며, 두 개의 다이아몬드 드릴이 운영 중이고 세 번째 드릴이 시작될 예정입니다.
회사는 임원 및 직원에게 주당 $1.40의 행사가로 150,000개의 스톡 옵션을 부여했으며, 2030년 4월 9일에 만료되며 단계별 분배 일정이 있습니다. 또한, 3년의 분배 기간을 가진 40,000개의 제한된 주식 단위가 부여되었습니다.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) a annoncé plusieurs mises à jour d'entreprise. La société a nommé Tim Bradburn au poste de Vice-Président Senior, Conseiller Général et Secrétaire de l'Entreprise, apportant plus de 20 ans d'expérience de son précédent rôle chez IAMGOLD.
Concernant l'accord d'acquisition de l'actif NorthX du 18 décembre 2024, la société fait état de progrès positifs et vise à conclure en mai 2025. L'entreprise a terminé ses programmes de forage de 2024 à Crean Hill et Shakespeare, avec les résultats finaux des analyses reçus et l'interprétation des données en cours. Actuellement, le forage d'exploration est actif à la Levack Mine, avec deux foreuses à diamant en fonctionnement et une troisième prévue pour commencer.
La société a accordé 150 000 options d'achat d'actions à des dirigeants et employés à un prix d'exercice de 1,40 $ par action, expirant le 9 avril 2030, avec un calendrier de vesting échelonné. De plus, 40 000 unités d'actions restreintes ont été accordées avec une période de vesting de 3 ans.
Magna Mining (TSXV: NICU) (OTCQB: MGMNF) hat mehrere Unternehmensaktualisierungen angekündigt. Das Unternehmen hat Tim Bradburn zum Senior Vice President, General Counsel und Corporate Secretary ernannt und bringt über 20 Jahre Erfahrung aus seiner vorherigen Rolle bei IAMGOLD mit.
Bezüglich der Übernahme des NorthX-Assets vom 18. Dezember 2024 berichtet das Unternehmen von positiven Fortschritten und plant den Abschluss im Mai 2025. Das Unternehmen hat seine Bohrprogramme für 2024 in Crean Hill und Shakespeare abgeschlossen, die endgültigen Analyseergebnisse sind eingegangen und die Dateninterpretation ist im Gange. Derzeit ist die Explorationsbohrung in der Levack Mine aktiv, mit zwei Diamantbohrern im Einsatz und einem dritten, der bald beginnen soll.
Das Unternehmen hat 150.000 Aktienoptionen an Führungskräfte und Mitarbeiter mit einem Ausübungspreis von 1,40 $ pro Aktie gewährt, die am 9. April 2030 auslaufen, mit einem gestaffelten Vesting-Plan. Darüber hinaus wurden 40.000 eingeschränkte Aktieneinheiten mit einer Vesting-Periode von 3 Jahren gewährt.
- Strategic asset acquisition from NorthX progressing towards May 2025 closing
- Expansion of exploration activities with multiple drill operations at Levack Mine
- Successful completion of 2024 Crean Hill and Shakespeare drilling programs
- Stock dilution through new options and RSUs issuance
Sudbury, Ontario--(Newsfile Corp. - April 14, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) (the "Company" or "Magna") is pleased to announce the appointment of Tim Bradburn as Senior Vice President, General Counsel and Corporate Secretary. Tim has over 20 years of experience in cross-listed publicly traded companies and most recently was Senior Vice President, General Counsel and Corporate Secretary at IAMGOLD Corporation. "I am honoured and excited to be joining greatly experienced people leading a company with great potential," commented Mr. Bradburn.
Asset Acquisition from NorthX
Since entering into a definitive asset purchase agreement on Dec 18, 2024 with NorthX for certain mineral claims, leases and patents in Sudbury, the Company, NorthX and their respective advisors have been working diligently towards the satisfaction of all conditions precedent under the APA including obtaining all required regulatory and third-party consents, approvals and waivers (See press release dated December 18, 2024). The Company is pleased with the progress made to date and is now targeting to close the transaction in May 2025.
Exploration Program for 2025
Final assay results have been received from the 2024 Crean Hill and Shakespeare diamond drilling programs. The company is encouraged by the results of the programs and interpretation of the new geological and geophysical data is ongoing. The results of this geological interpretation and modelling will be used to prioritize targets and budgets for the 2025 exploration program. Exploration drilling is underway at the Levack Mine with two diamond drills in operation and a third drill scheduled to start this week. Magna expects to announce more details on the 2025 exploration program as plans are finalized over the next few months.
Grant of Stock Options and RSUs
On April 9, 2025, the Company granted a total of 150,000 stock options to purchase common shares of the company to certain officers and employees pursuant to the stock option plan. Such options are exercisable into common shares of the company, at an exercise price of
About Magna Mining Inc.
Magna Mining is a producing mining company with a portfolio of copper, nickel and PGM operating, exploration and development projects in the Sudbury Region of Ontario, Canada. The Company's primary assets are the producing McCreedy West copper mine and the past producing Levack, Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on SEDAR (www.sedarplus.ca) and on the Company's website (www.magnamining.com).
For further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email: info@magnamining.com
Cautionary Statement
This press release contains certain forward-looking information or forward-looking statements as defined in applicable securities laws. Forward-looking statements are not historical facts and are subject to several risks and uncertainties beyond the Company's control, including statements regarding closing the NorthX transaction in May 2025 and the statement about expecting to announce more details on the Shakespeare, Crean Hill, McCreedy West, and Levack exploration programs in the coming months. Resource exploration and development are highly speculative, characterized by several significant risks, which even a combination of careful evaluation, experience and knowledge may not eliminate.
All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248358
FAQ
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