GR Silver Mining Announces Incentive Plan Grants
GR Silver Mining Announces Incentive Plan
Grants
VANCOUVER, BC
,
Oct. 2, 2024
/PRNewswire/ -- GR Silver Mining Ltd.
("
GR Silver Mining
" or
the "
Company
") (TSXV: GRSL, OTCQB: GRSLF, FRANKFURT: GPE) – announces that the
Company has granted Deferred Share Units ("
DSUs
") to eligible persons in accordance with the
Omnibus Long-Term Incentive Plan (the "
Plan
") approved by the Board on
August 2, 2022
and
approved by shareholders at the Company's Annual General Meeting held on
September 18, 2023
,
and subject to the policies of the TSX Venture Exchange (the "
TSXV
").
A total of 97,480 deferred share units (each, a "
DSU
") were granted to the Company's non-
executive directors for director's fees relating to the calendar quarter ended
September 30, 2024
,
which DSUs will vest one year after their date of grant in accordance with TSXV policies. The Board
has adopted a director fee equity compensation package whereby for each calendar quarter until
resolved otherwise by the Board, each non-executive director will receive DSUs equal in value to
$6,000
, with the number of DSUs to be determined based on the closing price of the Company's
common shares at the applicable quarter end, which DSUs will vest one year after their date of
grant in accordance with TSXV policies.
Once vested, each DSU entitles the holder thereof to receive either one common share of the
Company, the cash equivalent of one common share or a combination of cash and common shares,
as determined by the Company, net of applicable withholdings. DSUs may not be settled until a
director ceases to serve as a director of the Company. The Plan includes (i) a rolling 10% stock
option plan, and (ii) a fixed 10% plan which permits the Company to issue up to 19,521,680 shares
on settlement of all non-stock option awards issued under the Plan (including DSUs and PSUs).
Following the above-noted grants, there are 2,043,068 shares issuable on settlement of all
outstanding DSUs and PSUs. For further information regarding the Plan, readers are encouraged to
review the management information circular prepared for the Company' annual general meeting of
shareholders held on
September 18, 2023
, which includes a copy of the Plan, which is available
under the Company's profile on
SEDAR+
and by visiting the Company's
website
.
About GR Silver Mining Ltd
.
GR
Silver Mining is a Canadian-based,
Mexico
-focused junior mineral exploration company engaged
in cost effective silver-gold resource expansion on its 100%-owned assets, located on the eastern
edge of the Rosario Mining District, in the southeast of
Sinaloa
State,
Mexico
.
GR
Silver Mining
controls 100% of the
Plomosas
Project, including the former
Plomosas
underground mine and wide,
high-grade silver mineralized zones at the San
Marcial
Area. Recent discoveries in the 78 km
2
of
highly prospective advanced stage exploration concessions, position the Company well in the pursuit
for resource expansion at the
Plomosas
Project.
GR Silver Mining Ltd.
Eric
Zaunscherb
, Chair & CEO
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" within the meaning of applicable
Canadian securities legislation and information that are based on the beliefs of management and
reflect the Company's current expectations. When used in this press release, the words "estimate",
"project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable terminology are intended to
identify forward-looking statements and information. Such statements and information reflect the
current view of the Company. Risks and uncertainties may cause actual results to differ materially
from those contemplated in those forward-looking statements and information. By their nature,
forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be
materially different from any future results, performance or achievements expressed or implied by
such forward-looking statements.
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 press release.
SOURCE
GR Silver Mining Ltd.
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For further information:
For further information, please contact: Eric Zaunscherb, Telephone:
+1.647.293.8457, Email: [email protected]
CO: GR Silver Mining Ltd.
CNW 07:30e 02-OCT-24