Defense Metals Grants Incentive Stock Options
Defense Metals Grants Incentive Stock Options
VANCOUVER, BC
,
Dec. 20, 2024
/CNW/ -
Defense Metals Corp.
("
Defense Metals
" or the "
Company
";
(TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) announces the grant of 9,950,000 incentive stock options
("
Options
") to directors, officers and consultants of the Company, subject to TSX Venture Exchange
approval. 8,850,000 options are exercisable, each to purchase one common share of the Company for five
years at a price of
C$0.125
per common share, 400,000 options are exercisable, each to purchase one
common share of the Company for five years at a price of
C$0.205
per common share and 700,000
options are exercisable, each to purchase one common share of the Company for five years at a price of
C$0.26
, in accordance with the terms of the Company's stock option plan and subject to certain vesting
provisions.
Guy de Selliers
, Executive Chairman of the Company, stated:
"With our new CEO and management team on board, it is essential that we grant these options in
order to attract and retain the high calibre talent Defense Metals needs to build our flagship
Wicheeda Project, for which our new team is working diligently to complete the Prefeasibility Study
in Q1, 2025."
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. is focused on the development of its 100% owned, 11,800-hectare (~29,158-acre)
Wicheeda REE Project that is located on the traditional territory of the McLeod Lake Indian Band in
British
Columbia, Canada
.
The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of
Prince
George
, is readily accessible by a paved highway and all-weather gravel roads and is close to
infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National
Railway and major highways allow easy access to the port facilities at
Prince Rupert
, the closest major
North American port to
Asia
.
For further information, please visit
www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email:
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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SOURCE
Defense Metals Corp.
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%SEDAR: 00042886E
CO: Defense Metals Corp.
CNW 07:20e 20-DEC-24