Standard Lithium Announces Restricted Share Unit and Option Grants
STANDARD LITHIUM LTD.
Suite 835, 1100 Melville Street Vancouver, British Columbia V6E 4A6
NEWS RELEASE
Standard Lithium Announces Restricted Share Unit and Option Grants
February 21, 2018 – Vancouver, BC – Standard Lithium Ltd. (“Standard Lithium” or the “Company”) (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L) announces that the Board of Directors has approved the implementation of a restricted share unit plan (the “RSU Plan), along with the grant of an aggregate of 2,100,000 restricted share units thereunder (the “RSUs”) and the grant of an aggregate of 500,000 incentive stock options (the “Options”).
The RSUs have been granted to directors and officers of the Company, based on a common share value of $2.10, with vesting occurring in three equal tranches every four months for a period of twelve months. The Options have been granted to directors, officers and consultants of the Company, with vesting occurring immediately. The Options are exercisable at a price of $2.10 for a period of sixty months.
RSU Plan
In order to further align the interests of the Company’s senior management, consultants and directors with those of the shareholders of the Company, the Board has approved the implementation of the RSU Plan, subject to receipt of approval by the TSX Venture Exchange and ratification by the Company’s shareholders at the next annual meeting. Under the RSU Plan, eligible persons may be allocated a number of RSUs as the Board deems appropriate, with vesting provisions also to be determined by the Board. Upon vesting, eligible participants shall be entitled to a cash payment equal to the number of RSUs granted, multiplied by the fair market value of the Company’s common shares on the redemption date. The Company shall also have the option to settle amounts owing to eligible persons via the issuance of common shares of the Company.
The maximum number of RSUs issuable under the RSU Plan is fixed at ten percent (10%) of the issued and outstanding common shares of the Company at any given time, provided however that at no time may the number of RSUs issuable under the RSU Plan, together with the number of common shares issuable under options that are outstanding under the Company’s Incentive Stock Option Plan, exceed ten percent (10%) of the issued and outstanding common shares as at the date of a grant under the RSU Plan or the Stock Option Plan, as the case may be.
Further details regarding the RSU Plan and all awards made thereunder will be set out in the management information circular of the Company that will be delivered to shareholders in respect of the Company’s next annual meeting of shareholders. A copy of the RSU Plan will also be available under the Company’s profile on SEDAR (www.sedar.com).
About Standard Lithium Ltd.
Standard Lithium’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. The Company is also commencing resource evaluation on up to approximately 33,000 acres of brine leases located in the Smackover Formation.
Standard Lithium is listed on the TSX Venture under the trading symbol “SLL”; quoted on the OTCQX under the symbol “STLHF”; and on the Frankfurt Stock Exchange under the symbol “S5L”. Please visit the Company’s website at www.standardlithium.com.
For further information, contact Anthony Alvaro at (604) 240 4793.
On behalf of the Board,
Standard Lithium Ltd.
Robert Mintak, CEO & Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.