Prismo Metals Announces Security Based Compensation Grants

Rhea-AI Summary

Prismo Metals Inc. (CSE:PRIZ)(OTCQB:PMOMF) has announced security-based compensation grants as part of its long-term incentive plan. The company has issued:

• 1,275,000 stock options to directors and officers, and 200,000 options to consultants, exercisable at $0.205 per share for five years
• 525,000 restricted share units (RSUs) to directors and officers
• 275,000 stock appreciation rights (SARs) to directors and officers

All grants will vest over one year, with one-third vesting every three months. This compensation strategy aims to align the interests of key personnel with the company's long-term performance.

Positive

• Implementation of a long-term incentive plan to align key personnel interests with company performance
• Diversified compensation package including stock options, RSUs, and SARs

Negative

• Potential dilution of existing shareholders' equity due to the issuance of new shares upon exercise of options, RSUs, and SARs

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / September 10, 2024 / Prismo Metals Inc. ("Prismo" or the "Company") (CSE:PRIZ)(OTCQB:PMOMF) announces that, pursuant to the Company's long-term incentive plan, it has granted a total of 1,275,000 stock options (the "Options") to certain directors and officers of the Company and 200,000 Options to certain consultants of the Company. The Options are each exercisable to purchase one common share of the Company (a "Common Share") at an exercise price of $0.205 for a period of five years. The Options will vest over one year, with one-third of the Options vesting every three months.

The Company has also issued an aggregate of 525,000 restricted share units (the "RSUs") to certain directors and officers of the Company. Each RSU entitles the holder to be issued one Common Share on vesting. The RSUs will vest over one year, with one-third of the Options vesting every three months.

The Company has further granted an aggregate of 275,000 stock appreciation rights (the "SARs") to certain directors and officers of the Company. Subject to vesting, each SAR entitles the holder to receive the number of Common Shares of the Company equal to the difference between $0.205 and the closing market price of the Common Shares on the settlement date, for a period of five years from the date of grant.

About Prismo Metals Inc.

Prismo (CSE:PRIZ) is mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

Please follow @PrismoMetals on Twitter, Facebook, LinkedIn, Instagram, and YouTube

Prismo Metals Inc.

1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6

Contact:

Alain Lambert, Chief Executive Officer
Steve Robertson, President steve.robertson@prismometals.com
Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Prismo Metals Inc.

View the original press release on accesswire.com

FAQ

What types of security-based compensation did Prismo Metals (PMOMF) grant?

Prismo Metals granted stock options, restricted share units (RSUs), and stock appreciation rights (SARs) to directors, officers, and consultants.

How many stock options did Prismo Metals (PMOMF) grant in September 2024?

Prismo Metals granted a total of 1,475,000 stock options, with 1,275,000 to directors and officers and 200,000 to consultants.

What is the exercise price and vesting period for the stock options granted by Prismo Metals (PMOMF)?

The stock options have an exercise price of $0.205 and will vest over one year, with one-third vesting every three months.

How many restricted share units (RSUs) did Prismo Metals (PMOMF) issue in this compensation grant?

Prismo Metals issued 525,000 restricted share units (RSUs) to certain directors and officers.