Santacruz Silver Grants Stock Options and Omnibus Plan Share Units
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News Release
August 2, 2024
Santacruz Silver Grants Stock Options and Omnibus Plan Share Units
Vancouver, B.C. – Santacruz Silver Mining Ltd. (TSX.V:SCZ) ("Santacruz" or "the Company”) announces that the
Company has granted deferred share units (“DSUs”), restricted share units (“RSUs”), performance share units (“PSUs”)
and stock options to directors, officers, employees and consultants in accordance with the Company’s Omnibus Equity
Incentive Plan dated November 17, 2023.
Awards under the 2023 Omnibus Equity Incentive Plan
The board of directors of the Company (the “Board”) has approved the grant of an aggregate of 675,000 DSUs, 850,000
RSUs, 2,500,000 PSUs, and 2,470,000 stock options to the directors, officers , employees and consultants of the
Company. The 2023 Omnibus Equity Incentive Plan’s objective is to create an incentive compensation program that is
aligned with the Company’s long-term objectives.
DSUs: Each vested DSU can be redeemed for one common share of the Company (a “Share”). For directors, the DSUs
granted vest one year after the grant date . The number of DSUs granted was calculated based on the compensation
that is to be paid to the director, as determined by the Board, by using $0.40 per DSU, a 16% premium to the closing
market price of the Shares on the TSX Venture Exchange (the “Exchange”) as at August 1, 2024.
RSUs: Each vested RSU can be redeemed for one Share. The RSUs granted will vest 1/3 one year after the grant date;
1/3 on March 31, 2026 and 1/3 on March 31, 2027 . The number of RSUs granted was calculated by using $0.40 per
RSU, a 16% premium to the closing market price of the Shares on the Exchange as at August 1, 2024.
PSUs: Each vested PSU can be redeemed for one Share . The PSUs granted to management will vest upon the
achievement of certain key performance indicators as determined by the Board, vesting not before one year after the
grant date. The number of PSUs granted was calculated by using $0.40 per PSU, a 16% premium to the closing market
price of the Shares on the Exchange as at August 1, 2024.
Stock options: The stock options have a 5-year term in accordance with the following vesting schedule : 1/3 one year
after the grant date; 1/3 on March 31, 2026 , and 1/3 on March 31, 2027. The stock options have an exercise price of
$0.40 per Share, a 16% premium to the closing market price of the Shares on the Exchange as at August 1, 2024.
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About Santacruz Silver Mining Ltd.
Santacruz Silver is engaged in the operation, acquisition, exploration, and development of mineral properties in Latin
America. The Bolivian operations are comprised of the Bolivar, Porco and the Caballo Blanco Group, which consists of
the Tres Amigos, Reserva and Colquechaquita mines. The Soracaya exploration project and San Lucas ore sourcing and
trading business are also in Bolivia. The Zimapan mine is in Mexico.
‘signed’
Arturo Préstamo Elizondo,
Executive Chairman and CEO
For further information please contact:
Arturo Préstamo
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: +52 81 83 785707
Sabina Srubiski
Manager, Investor Relations
Santacruz Silver Mining Ltd.
Email: [email protected]
Telephone: +1 888 883 2011
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.