Kincora Issues Shares for Services
www.kincoracopper.com [email protected]
Kincora Issues Shares for Services
Vancouver, BC — March 12, 2020
Kincora Copper Ltd. (the “Company”, “Kincora”) (TSXV:KCC) announces that it will issue
3,233,697 common shares in total, for the periods July 01, 2019 – September 30, 2019 (Q3) and
October 01, 2019 – December 31, 2019 (Q4). The shares will be issued under BSCS exemption
“BCSC National Instrument 45-106, § 2.14 Securities for Debt”.
The Company will issue 1,339,285 common shares at a deemed price of 0.069 cents per share as
of September 30, 2019 and 1,875,000 common shares at deemed price of 0.050 cents per share
as of December 31, 2019 to certain directors, officers and service providers on account of
services rendered during the quoters ending October 2019 (Q3) and December 2019 (Q4).
The issuance of shares is subject to a number of conditions, including receipt of all necessary
corporate and regulatory approvals, including approval of the TSX Venture Exchange. The
Shares for Services are to be subject to a four-month hold period from the date of issuance.
The Company’s Shares for Services plan covered over these periods was approved by written
consent from disinterested shareholders and approved by the TSX Venture Exchange as
originally announced November 14, 2016. This plan, and the updated plan passed at the 2019
Annual General Meeting on September 26th, 2019, seeks to provide competitive packages to
retain and attract key executives, align all senior executives/directors to the creation of value for
shareholders and minimize the cash overheads of the Company. During the September 26, 2019
Annual General Meeting amendment to the original Management agreements was approved by
disinterested shareholders with an effective date of January 01, 2019.
For further information:
Sam Spring,
President and Chief Executive Officer
+61 431 329 345
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.