Comet Lithium Announces Grant of Incentive Securities
COMET LITHIUM ANNOUNCES GRANT OF
INCENTIVE SECURITIES
ROUYN-NORANDA, QC
,
March 15, 2024
/CNW/ - Comet Lithium Corporation (TSXV: CLIC) (FSE:
8QY) ("Comet Lithium" or the "Corporation") is pleased to announce that its Board of Directors has
approved today a grant of an aggregate of 230,000 restricted share units ("
RSUs
") to the three
officers of the Corporation and consultant of the Corporation, 220,000 deferred share units ("
DSUs
")
to the non-management directors of the Corporation, and stock options in respect of an aggregate
of 650,000 common shares (the "
Options
") to the non-management directors, three officers of the
Corporation and one consultant of the Corporation, in accordance with the Corporation's Omnibus
Equity Incentive Plan (the "
Plan
").
Each RSU entitles the recipient to receive one common share of the Corporation, or a cash payment
equal to the equivalent for one common share of the Corporation, following the vesting period of the
RSUs. The RSUs awarded will fully vest on the first anniversary of the date of grant.
Each DSU entitles the recipient to receive one common share of the Corporation upon settlement of
the DSU. The DSUs awarded will fully vest on the first anniversary of the date of grant and will settle
on the termination of service.
Each Option entitles the recipient to purchase one common share of the Corporation at a price of
$0.50
per share, which is higher to the closing price of the Corporation's common shares on the TSX
Venture Exchange on
Thursday March 14, 2024
. The Options vest immediately and will expire in five
years.
All the forgoing RSUs, PSUs, DSUs and Options are subject to the terms of the Plan, the applicable
grant agreement, and the requirements of the TSX Venture Exchange.
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company active in the prolific
James Bay
District of
Quebec
. Comet Lithium's flagship asset is its 100%-owned Liberty Property contiguous to
Winsome Resources' Adina lithium deposit, a growing high-grade lithium discovery. Comet Lithium is
advancing its Liberty Property to first-ever drilling.
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
the release.
SOURCE
Comet Lithium Corp.
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For further information:
Comet Lithium Corporation, Vincent Metcalfe, Chairman and CEO,
[email protected] +1.514.249.9960; 147 Québec Avenue (back door) Rouyn-Noranda,
Québec J9X 6M8
Email: [email protected], Website: CometLithium.com
CO: Comet Lithium Corp.
CNW 16:34e 15-MAR-24