Quartz Mountain Announces Grant of Stock Options

Rhea-AI Summary

Quartz Mountain Resources Ltd. has announced the grant of stock options for a total of 3,204,300 common shares to two directors. These options, exercisable at an exercise price of $0.20, were approved by the Board of Directors and are in line with the Company's stock option plan and TSX Venture Exchange requirements. The options vest fully on the grant date, expiring on October 28, 2027.

For further inquiries, interested parties can contact Investor Services.

Positive

• Stock options grant for 3,204,300 shares, aligning with management incentives.
• Exercise price set at $0.20, equal to last closing price, indicating no immediate dilution.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / October 31, 2022 / Quartz Mountain Resources Ltd. ("Quartz Mountain" or the "Company") (TSX-V:QZM, OTCBB:QZMRF), announces that the Company's Board of Directors has approved the grant of stock options (the "Options") exercisable for a total of 3,204,300 common shares to two directors. All Options were granted pursuant to the Company's stock option plan and are subject to the requirements of the TSX Venture Exchange. The Options were granted at an exercise price of $0.20, being the last closing price of the Company's common shares before the effective date of this stock option grant. The Options vest fully on the grant date, and expire on October 28, 2027.

For further details, contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114.

On behalf of the Board of Directors.

Robert Dickinson
Chairman, 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 release.

This release includes certain statements that may be deemed "forward-looking-statements". All statements in this release, other than statements of historical facts are forward-looking-statements. These statements include expectations about the likelihood of completing the private placement and share consolidation and the ability of the Company to secure regulatory acceptance for the private placement and share consolidation. Though the Company believes the expectations expressed in its forward-looking-statements are based on reasonable assumptions, such statements are subject to future events and third party discretion such as regulatory personnel. For more information on the Company, and the risks and uncertainties connected with its business, investors should review the Company's home jurisdiction filings as www.sedar.com and its filings with the United States Securities and Exchange Commission.

SOURCE: Quartz Mountain Resources Ltd.

View source version on accesswire.com:
https://www.accesswire.com/723107/Quartz-Mountain-Announces-Grant-of-Stock-Options

FAQ

What is the stock option grant by Quartz Mountain Resources Ltd. for QZMRF?

Quartz Mountain Resources Ltd. announced a grant of stock options for 3,204,300 common shares to two directors at an exercise price of $0.20.

When do the stock options for Quartz Mountain Resources Ltd. expire?

The stock options granted by Quartz Mountain Resources Ltd. will expire on October 28, 2027.

What is the significance of the stock options being granted at $0.20 for QZMRF?

The stock options were granted at an exercise price of $0.20, which is the last closing price of the Company's shares, indicating no immediate dilution.

Who received the stock options from Quartz Mountain Resources Ltd. (QZMRF)?

The stock options were granted to two directors of Quartz Mountain Resources Ltd.