Cantex Announces Adoption of New Form 7% Rolling Share Option Plan
CANTEX ANNOUNCES ADOPTION OF NEW
FORM 7% ROLLING SHARE OPTION PLAN
KELOWNA, BC
,
May 12, 2022
/CNW/ - Cantex Mine Development Corp. (TSXV: CD) (the
"Company
") announces that, further to its
January 31, 2022
news release, the Company has
adopted a new 7% rolling share option plan (the "
New Plan
"). The New Plan received TSX Venture
Exchange approval and shareholders approved the New Plan at the Company's Annual General
Meeting held on
January 28, 2022
.
The New Plan has replaced the Company's 2008 share option plan. The New Plan provides that the
number of Common Shares of the Company issuable under the New Plan, together with all of the
Company's other previously established or proposed share compensation arrangements, may not
exceed 7% of the total number of the Company's issued and outstanding Common Shares. The
New Plan allows the Corporation to grant share options to Service Providers, being directors,
officers, employees and consultants of the Company, as additional compensation, and creates an
opportunity for them to participate in the success of the Company.
The updates to the New Plan are non-material changes and will not negatively affect the holders of
common shares of the Company. Following shareholder approval to the New Plan, the Company's
2008 share option plan ceased to exist. All outstanding options granted under the 2008 share option
plan have been rolled into the New Plan.
TSX Venture Exchange Policy requires that shareholders of the Company ratify and approve the
Plan annually to allow for continuation of the Plan.
Signed,
Chad Ulansky
Chad Ulansky
President and CEO
Neither 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 press release.
SOURCE
Cantex Mine Development Corp.
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For further information:
Cantex Mine Development Corp, Tel: +1-250-860-8582; Email:
CO: Cantex Mine Development Corp.
CNW 19:34e 12-MAY-22