ALPHAMIN ANNOUNCES AWARD OF STOCK OPTIONS AND SAR EQUIVALENT SHARES
12 November 2022 - 1:15AM
Alphamin Resources Corp. (TSXV: AFM, JSE AltX: APH, “Alphamin” or
“the Company”) announced today that, subject to regulatory
approval, it has awarded stock options and SAR Equivalent Shares
pursuant to its Omnibus Incentive Plan. The Company has granted
stock options to acquire an aggregate of 6,100,000 common shares to
employees and a director of an Alphamin subsidiary, with each
option exercisable for a seven year term to acquire one common
share at a price of C$0.68 per share. The options granted vest over
a three year period from the date of grant.
The Company has also
authorized the issuance of 3,500,000 SAR Equivalent Shares
(“SARES”) to two senior officers of the Company. The SARES are
functionally equivalent to stock appreciation rights however, any
entitlements are satisfied by dividend payments on the SARES. The
reference price for the SARES awarded is C$0.68 and dividends shall
be payable on the SARES (to the the extent that they are
“in-the-money”) on the first, second and third anniversaries of the
date of award.
FOR MORE INFORMATION, PLEASE CONTACT:
Maritz
Smith CEO Alphamin
Resources
Corp. Tel:
+230 269 4166E-mail: msmith@alphaminresources.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.
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