Magna Mining Announces Grant of Stock Options
Magna Mining Announces Grant of Stock
Options
Sudbury, Ontario--(Newsfile Corp. - October 21, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB:
MGMNF) (FSE: 8YD) (the "
Company
" or "
Magna
") announces that on October 17
th
, 2024, it granted a
total 250,000 stock options ("
Options
") to purchase common shares of the Company to certain officers
and employees pursuant to the Company's Stock Option Plan. Such Options are exercisable into
common shares of the Company at an exercise price of $1.17 per common share for a period of five
years from the date of grant. The Options vest 1/3 immediately and 1/3 annually thereafter. All of the
Options expire on October 17
th
, 2029.
In addition, on September 19
th
, 2024, the Company granted a total of 1,031,900 options to certain
directors and employees of the company pursuant to the Company's Stock Option Plan. These options
are exercisable into common shares at an exercise price of $1.15 per common share for a period of five
years from the date of grant.
About Magna Mining Inc.
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects
in the Sudbury Region of Ontario, Canada. The Company's flagship assets are the past producing
Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has
major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings
storage facility and is surrounded by a contiguous 180km
2
prospective land package. Crean Hill is a
past producing nickel, copper and PGM mine with a technical report dated July 2023. Additional
information about the Company is available on SEDAR (
www.sedarplus.ca
) and on the Company's
website (
www.magnamining.com
). For more information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
Tel: 705-482-9667
Email:
Cautionary Statement
This press release contains certain forward-looking information or forward-looking statements as
defined in applicable securities laws. Forward-looking statements are not historical facts and are
subject to several risks and uncertainties beyond the Company's control, including statements
regarding the production at the Shakespeare and Crean Hill Mines, the economic and operational
potential of the Shakespeare and Crean Hill Mines, potential acquisitions, plans to complete
exploration programs, potential mineralization, exploration results and statements regarding beliefs,
plans, expectations, or intentions of the Company. Resource exploration and development is highly
speculative, characterized by several significant risks, which even a combination of careful evaluation,
experience and knowledge may not eliminate. All forward-looking statements herein are qualified by
this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking
statements. The Company undertakes no obligation to update publicly or otherwise revise any
forward-looking statements whether as a result of new information or future events or otherwise, except
as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this
press release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/227357