options granted; cue promo
Spearmint Resources grants options to buy 1.05M shares
2022-10-31 19:31 ET - News Release
Mr. James Nelson reports
COMPANY UPDATE
Spearmint Resources Inc. has granted a total of 1.05 million stock options at an exercise price of five cents per share for a period of 12 months and the company also granted a total of 6.6 million restricted share units (RSUs) to its directors, officers and consultants. The RSUs vest as follows: 40 per cent three months after the date of grant; 20 per cent on six months; 20 per cent on nine months; and 20 per cent at one year. The options and the RSUs have been granted in accordance with the company's omnibus equity incentive plan and the policies of the Canadian Securities Exchange. Hold periods are based on the standard exchange policy and subject to shareholder approval.
About Spearmint Resources Inc.
Spearmint's primary projects include three lithium projects in Clayton Valley in Nevada: the McGee lithium clay deposit, which has a resource estimate of 1,369,000 indicated tonnes and 723,000 inferred tonnes of lithium carbonate equivalent for a total of 2,092,000 tonnes of LCE, directly bordering Pure Energy Minerals & Cypress Development Corp.; the Elon lithium brine project, which has access to some of the deepest parts of the only lithium brine basin in production in North America; and the recently acquired Green Clay lithium project, comprising 97 contiguous claims totalling approximately 2,000 acres.
Spearmint's other primary projects include the Goose gold project directly bordering New Found Gold, where Spearmint has sampled up to 973 parts per billion gold, and the Perron-East gold project, consisting of five mineral claim blocks covering 11,608 acres, located in the Abitibi greenstone belt of northwestern Quebec, in the direct vicinity of Amex Exploration Inc.'s Perron property and past-producing Normetal mine.