Tincorp Announces Approval of Omnibus Equity Incentive Plan and Grant of Stock Options
Tincorp Metals has announced that its Omnibus Equity Incentive Plan has received approval from the TSX Venture Exchange. This plan, which was also approved by shareholders on June 21, 2024, replaces the company's existing stock option plan. It allows for the grant of options to purchase up to 10% of the total issued and outstanding common shares, amounting to 6,690,742 common shares. Additionally, the company has granted 2,440,000 stock options to its directors, officers, employees, and consultants. These options are exercisable over five years at a price of $0.25 per share, with vesting occurring in six equal tranches over three years.
- Approval of the Omnibus Equity Incentive Plan allows Tincorp to grant options for up to 10% of the total issued and outstanding shares.
- The grant of 2,440,000 stock options at $0.25 per share could incentivize and retain key personnel.
- Granting 2,440,000 stock options could lead to potential shareholder dilution.
Vancouver, British Columbia--(Newsfile Corp. - July 5, 2024) - Tincorp Metals Inc. (TSXV: TIN) (OTCQX: TINFF) ("Tincorp" or the "Company") is pleased to report that the Company's Omnibus Equity Incentive Plan (the "Omnibus Plan") has been approved by the TSX Venture Exchange (the "TSXV"). The Omnibus Plan was approved by the Company's shareholders at the Company's annual and special meeting of shareholders on June 21, 2024, it replaces the Company's existing stock option plan and allows for the grant of options to purchase up to
The Company has granted, subject to regulatory approval, an aggregate of 2,440,000 stock options to directors, officers, employees and consultants of the Company, pursuant to the terms of the Company's Omnibus Plan. The options are exercisable for a period of 5 years from the date of grant at price of
About Tincorp
Tincorp Metals Inc. is a mineral exploration company focusing on tin projects in Bolivia and a gold project near Whitehorse, Yukon, Canada. The Company acquired a
On Behalf of Tincorp Metals Inc.
Victor Feng, Interim CEO
For further information, please contact:
Investor Relations, Tincorp Metals Inc.
Phone: +1 (604)-336-5919
Email: info@tincorp.com
www.tincorp.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 news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collective, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding final approval of the Company's option grant by the TSX Venture Exchange, the search for a permanent CEO are forward-looking statements. Forward-looking statements are often, but not always, identified by words or phrases such as "expects", "is expected", "anticipates", "believes", "plans", "projects", "estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts", "objectives", "budgets", "schedules", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions. Forward-looking statements are based on the opinions, assumptions, factors and estimates of management considered reasonable at the date the statements are made.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
Additional information in relation to the Company, including the Company's most recent annual information form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.tincorp.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215528
FAQ
What is Tincorp's Omnibus Equity Incentive Plan?
How many stock options did Tincorp grant under the Omnibus Plan?
What is the exercise price and vesting schedule for Tincorp's new stock options?
When did shareholders approve Tincorp's Omnibus Equity Incentive Plan?