Magna Mining Announces Grant of Stock Options and RSUs
Magna Mining Inc.
www.magnamining.com
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N E W S R E L E A S E T S X V : N I C U
Magna Mining Announces Grant of Stock Options and RSUs
November 3, 2023, Sudbury, Ontario – Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD)
(the " Company" or “ Magna") announces that it has granted a total of 2,281,000 stock options
("Options") to purchase common shares of the Company to certain officers, employees and
consultants pursuant to the Company's Stock Option Plan. Such Options are exercisable into common
shares of the Company at an exercise price of $0.44 per common share for a period of three years from
the date of grant. The Options ve st 1/3 immediately and 1/3 annually thereafter. All of the Options
expire on November 2, 2028.
In addition, the Company has issued a total of 961,000 restricted share units (" RSUs") to certain
directors, officers and employees of the Company in accordance with the Company's Restricted Share
Unit Plan ("RSU Plan”). The RSUs will fully vest on the date that is three year from the date of grant.
Once vested, each RSU represents the right to receive one common share of the Company or the
equivalent cash value thereof, at the Company's discretion. The Company further announces that, in
connection with such grant of a portion of the RSUs, the Company also approved an amendment to
the RSU Plan (the " Amended RSU Plan ") to increase the fixed maximum number of shares reserved
for issuance under the RSU Plan from 1,500,000 to 3,000,000 shares. The Amended RSU Plan and the
grant of 315,000 RSUs under the Amended RSU Pl an are subject to approval by the TSX Venture
Exchange and ratification by the Company's shareholders at the next annual and special meeting of
shareholders.
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 asset is the past
producing Shakespeare Mine which has major permits for the construction of a 4500 tonne per day
open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous
180km2 prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a
NI 43-101 Technical Report, Preliminary Economic Assessment 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 further information, please contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
Magna Mining Inc.
www.magnamining.com
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416 356 8165
Email: [email protected]
Cautionary Statement
This press release contains certain forward-lookin g information or forward-looking statements as
defined in applicable securities laws. Forward-lo oking statements are not historical facts and are
subject to several risks and uncertainties beyond the Company's control, including statements
regarding 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. Th e 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.