Kincora grants incentive options and shares
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996
Kincora grants incentive options and
shares
Vancouver, BC — June 18 th, 2019
Kincora Copper Ltd. (the “ Company”, “ Kincora”) (TSXV:KCC) has recently completed a
comprehensive remuneration revi ew to better align, incentiv ize and retain the board and
technical and management teams, and ensure co ntributions to the Company, both past and
present, have been recognised (“Remuneration Review”).
Kincora has granted to directors, officers and employees a total of 12 ,413,712 stock options
under the Company's stock option plan, noting 2,596,627 existing stock options have been
cancelled, and subject to shareholder approval and the acceptance of the TSX Venture Exchange
(the “Exchange”), is to be reissued as part of the new grant.
Half the new options have a 2-year term from issu ance date exercisable at a price of 11 cents per
share and the other half being exercisable at 25 cents per share with a 3-year term from
issuance. 5,874,136 options, split equally for the aforementioned terms, will vest over a 4-month
period from the issuance date. A further 3,272,200 options, spli t equally for the aforementioned
terms, will vest over a 4-month period post th e conversion of 16,722,000 subscription receipts,
and issued in the recently completed over subscr ibed offering into units and the release from
t r u s t o f 1 6 , 0 0 0 , 0 0 0 u n i t s s o l d i n t h e s a m e o f f e r i n g ( s e e n e w s r e l e a s e d a t e d J u n e 1 1 , 2 0 1 9 ) .
3,267,376 options, split equally for the aforementioned terms, will vest over a 4-month period
post the Company receiving the shareholder approvals required by the Exchange.
Following the Remuneration Review, the Comp any has awarded a one off share award of
1,037,376 shares with a 12-month lock up to President & CEO, Sam Spring, to recognise his
contributions over the past 24 months. The ne w Shares and Options are subject to a 4-month
hold period commencing as of the date of i ssuance. Further components of the Remuneration
Review will be tabled ahead of the next Annual General Meeting.
Further to the news release of June 11, 2019 detailing an oversubscribed private placement of
units and subscription rights, following these issuances and assuming conversion of the
subscription receipts and releas e of the units held in trust, Kincora is anticipated to have
134,992,035 issued shares, a total of 71,4 91,799 warrants and 13,395,468 stock options
outstanding.
For further information, please contact:
Ray Nadarajah, Chairman of the Remuneration Committee
[email protected] or +1 604 283 1722
800–1199 West Hastings Street, Vancouver, BC V6E 3T5 Phone +1 604 283 1722 Fax +1 888 241 5996
About Kincora
Kincora Copper operates in the Gobi region of South Mongolia. It has a dominant land position and is undertaking the first modern
systematic district scale exploration centred on the drill ready Bronze Fox and East Tsagaan Suvarga (ETS) porphyry projects. This
wholly owned portfolio has attracted a first-class technical team who are credited with multiple discoveries of Tier 1 copper deposits.
Reinterpretation of existing data (including relogging, and block model analysis, of over 24,000 metres of drilling at Bronze Fox),
the acquisition of additional geophysical data (Induced Polarization, gravity & magnetics at both projects) and first phase drilling at
East TS under the watch of the current technical team since late 2016 have advanced both projects significantly resulting in new and
exciting geological targets.
All data has been iteratively interpreted in a technically rigorous workshop format by the Kincora in-house technical team with
appropriate involvement of specialist consultants of their respective field and advisors to the technical committee. This has ensured
that quality targets have been identified and prioritised for drilling, with a detailed multiple target, multiple phase drill programs
budgeted at Bronze Fox and ETS (and fully permitted).
These targets sit in the “target testing” to “advanced drilling” phases of projects development, which for copper porphyries offers
the maximum uplift in project (and shareholder) value. These targets, for their respective stages of exploration, are considered “as
good as you get within a global setting”. Confirmation of our geological models with positive results from the proposed drilling have
the potential to demonstrate, and in time, elevate both projects to Tier 1 or world-class status1.
For further information: www.kincoracopper.com
June 2019 presentation: https://www.kincoracopper.com/investors/presentations
May 2019 Proactive Investors & Metal News interviews: https://www.kincoracopper.com/investors/interviews
Exploration strategy 2019: https://www.kincoracopper.com/about-us/exploration-strategy-2019
Corporate strategy: https://www.kincoracopper.com/about-us/corporate-strategy
“Introduction to Mongolia” presentation: https://www.kincoracopper.com/investors/mongolia
https://twitter.com/KincoraCopper
1 Kincora recognises that the terms “World Class” or “Tier 1” are subjective and our targets are conceptual in nature, yet to be
supported by drilling results to support an sufficient understanding of their potential grade or scale, let alone potential economics
that are commonly associated with such terms. However, both the Bronze Fox and East TS projects have complementary geological
and geophysical characteristics, with significant target zone potential and are in known mineralised systems in a proven prolific but
underexplored copper porphyry belt. It is the view of Kincora that confirmation of our geological models with positive results from
the proposed drilling have the potential to demonstrate, and in time, elevate both projects to Tier 1 or world-class status.
Forward-Looking Statements
Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of
applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora
cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events
and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially
from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of
capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified
in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to
change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may
be required under applicable securities laws.
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 release.