Electric Metals Announces Dsu and Stock Option Grant
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ELECTRIC METALS ANNOUNCES DSU AND STOCK OPTION GRANT
Toronto, Ontario, October 29, 2024: Electric Metals (USA) Limited (“EML” or the “Company”) (TSXV: EML)
(OTCQB: EMUSF) announces that it has granted an aggregate of 793,376 deferred share units ("DSUs") to
its non-management directors for consideration for services rendered, and 200,000 incentive stock options
to an officer of the Company. The DSUs were granted at an average grant price of C$0.11 per unit. The
stock options have an exercise price of C$0.25; 100,000 vest on June 19, 2025, with the remaining options
vesting based on key performance metrics.
The DSUs and stock option s were granted in accordance with the Company's Omnibus Incentive Plan ,
which was approved by shareholders on June 26, 2024.
About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) is a US-based mineral development company
with manganese and silver projects geared to supporting the transition to clean energy. The Company’s
principal asset is the Emily Manganese Project in Minnesota , the highest-grade manganese deposit in
North America, which has been the subject of considerable technical studies , including National
Instrument 43-101 Technical Reports – Resource Estimates. The Company’s mission in Minnesota is to
become a domestic U S producer of high-value, high-purity manganese metal and chemical products to
supply the North American electric vehicle battery, technology and industrial markets. With manganese
playing a critical and prominent role in lithium -ion battery formulations, and with no current domestic
supply or active mines for manganese in North America, the development of the Emily Manganese Project
represents a significant opportunity for America, the State of Minnesota and for the Company’s
shareholders.
For further information, please contact:
Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197
or
Valerie Kimball
Director Investor Relations
720-933-1150
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Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively,
"forward-looking information") within the meaning of applicable securities laws. Forward -looking
information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates,"
"intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative
of such expressions.
Such statements in this news release include, without limitation: the intended use of proceeds of the Loan;
the Company's mission to become a domestic US producer of high -value, high-purity manganese metal
and chemical products to supply the North American electric vehicle battery, technology and industrial
markets; that manganese will continue to play a critica l and prominent role in lithium -ion battery
formulations; that with no current domestic supply or active mines for manganese in North America, the
development of the Emily Manganese Project represents a significant opportunity for America, Minnesota
and for the Company's shareholders; and planned or potential developments in ongoing work by Electric
Metals.
These statements address future events and conditions and so involve inherent risks, uncertainties and
other factors that could cause actual events or results to differ materially from estimated or anticipated
events or results implied or expressed in such forward-looking statements. Such risks include, but are not
limited to, the failure to obtain all necessary stock exchange and regulatory approvals. Forward -looking
information is based on the reasonable assumptions, estimates, analysis and opinions of management
made in light of its experience and perception of trends, updated conditions and expected developments,
and other factors that management believes are relevant and reasonable in the circumstances at the date
such statements are made. Although the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward -looking information, there may
be other factors that cause results not to be as anticipated. There can be no assurance that such
information will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking
information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the
Company disclaims any obligation to revise or update any such forward-looking information or to publicly
announce the result of any revisions to any of the forward-looking information contained herein to reflect
future results, events, or developments, except as required by law.
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.