Cypress Development Announces Stock Option Grant
NEWS RELEASE TSXV: CYP | OTCQB: CYDVF
CYPRESS DEVELOPMENT ANNOUNCES STOCK OPTION GRANT
October 1 8, 2021 - Vancouver, Canada - Cypress Development Corp. (TSXV: CYP) ( OTCQB: CYDVF)
(Frankfurt: C1Z1) (“Cypress” or “the Company”) announces that a total of 150,000 incentive stock options
(the "Options") were granted to a director of the Company on October 1, 2021 . The Options are
exercisable at $1.51 (closing price as of September 30, 2021) per share for a period of five years from the
date of grant and vest on June 1, 2022.
Further, the Company confirms that on May 3, 2021, it awarded 750,000 stock options (the “Options”)
with an exercise price of $1.25 per option and vesting as to 250,000 Options on August 31, 2021, 250,000
Options on December 31, 2021 and 250,000 Options on April 30, 2022 and expiring on May 3, 2024. The
Company’s closing share price on the day of the award was $1.10. The Options were issued pursuant to
the employment contract of Abraham Jonker, Chief Financial Officer , dated May 1, 2021 and his
appointment which was announced on May 3, 2021.
The Options were granted under and are governed by the terms of the Company's incentive stock option
plan.
About Cypress Development Corp
Cypress Development Corp. is a Canadian advanced stage lithium exploration company, focused on
developing its 100%-owned Clayton Valley Lithium Project in Nevada, USA. Work completed by Cypress
led to the discovery of a world-class resource of lithium-bearing claystone adjacent to the Albemarle Silver
Peak mine, North America's only lithium brine operation. The results of a positive Pre-Feasibility Study for
the Clayton Valley Lithium Project were announced by Cypress Development in August 2020. Cypress
Development trades on the TSX Venture Exchange under the symbol CYP, and on the OTCQB under the
symbol CYDVF.
ON BEHALF OF CYPRESS DEVELOPMENT CORP.
WILLIAM WILLOUGHBY, PhD., PE
President & Chief Executive Officer
For further information, please contact:
Spiros Cacos | Vice President, Investor Relations
Direct: +1 604 764 1851 | Toll Free: 1 800 567 8181 | Email [email protected]
www.cypressdevelopmentcorp.com
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