Summa Silver Announces Grant of Stock Options

Rhea-AI Summary

Summa Silver Corp (TSXV: SSVR) (OTCQX: SSVRF) has announced the approval of 2,400,000 incentive stock options granted to officers, directors, and consultants of the company. The options come with specific terms: they will vest over a two-year period from the grant date, can be exercised at $0.40 per share, and will expire on January 24, 2030.

Positive

• Stock options align management and consultant interests with shareholders
• Long-term vesting period of two years promotes retention of key personnel

Negative

• Potential future dilution of 2.4M shares if options are exercised
• Options are priced at $0.40, which may represent a discount to market value

Vancouver, British Columbia--(Newsfile Corp. - January 24, 2025) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) (FSE: 48X) ("Summa" or the "Company") has approved the grant of 2,400,000 incentive stock options to officers, directors, and consultants of the Company. The options vest over a two-year period following the grant date, are exercisable at a price of $0.40, and expire on January 24, 2030.

About Summa Silver Corp

Summa Silver Corp is a junior mineral exploration company. The Company owns a 100% interest in the Hughes project located in central Nevada and in the Mogollon project located in southwestern New Mexico. The high-grade past-producing Belmont Mine, one of the most prolific silver producers in the United States between 1903 and 1929, is located on the Hughes project. The Mogollon project is the largest historic silver producer in New Mexico. Both projects have remained inactive since commercial production ceased and neither have seen modern exploration prior to the Company's involvement.

Follow Summa Silver on Twitter: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com

ON BEHALF OF THE BOARD OF DIRECTORS

"Galen McNamara"
Galen McNamara, Chief Executive Officer
info@summasilver.com
www.summasilver.com

Investor Relations Contact:
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com

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.

Cautionary note regarding forward-looking statements

This news release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-Looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. These forward‐looking statements or information relate to, among other things: exploration and development of the Company's mineral exploration projects including completion of surveys and drilling activities; the release of assays.

Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the requirement for regulatory approvals; enhanced uncertainty in global financial markets as a result of the current COVID-19 pandemic; unquantifiable risks related to government actions and interventions; stock market volatility; regulatory restrictions; the ongoing conflict in Ukraine; and other related risks and uncertainties disclosed in the Company's public disclosure documents.

Forward-Looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.

The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238415

FAQ

How many stock options did Summa Silver (SSVRF) grant on January 24, 2025?

Summa Silver granted 2,400,000 incentive stock options to officers, directors, and consultants.

What is the exercise price for Summa Silver's (SSVRF) January 2025 stock options?

The stock options have an exercise price of $0.40 per share.

When do Summa Silver's (SSVRF) January 2025 stock options expire?

The stock options expire on January 24, 2030, giving holders a 5-year window to exercise.

What is the vesting schedule for Summa Silver's (SSVRF) January 2025 stock options?

The options vest over a two-year period following the grant date of January 24, 2025.