Velox Issues New Options
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TSX-V Announcement
16 January 2024
Velox Issues New Options
Toronto, Ontario, January 15, 2024 – Velox Energy Materials Inc. (TSXV: VLX) (“ Velox” or “the Company”) is pleased to
announce that it has, pursuant to its Stock Option Plan granted options over 6 million new common shares in the Company
("Common Shares"), representing approximately 2.4 percent of the existing issued share capital of the Company, to
certain Directors and employees to subscribe for new Common Shares at an exercise price of $0.05 with a life to expiry
of 5 years from 12 January 2024 with an immediate vesting period (the "New Options").
The New Options are outlined in the table below:
Designation New Options granted Exercise price of
New Options
Expiry date of New
Options
Simon Coyle CEO & President 4,000,000 $0.05 12 January 2029
Mark Connelly Director 2,000,000 $0.05 12 January 2029
About Velox Energy Materials
Velox Energy Materials is a publicly traded energy materials company developing and progressing high -value assets in
resource and research -friendly jurisdictions. The Company’s priority focus is the advanced NQV Project in Queensland,
Australia. The NQV Project hosts the Cambridge Deposit with an Indicated Mineral Resource of 61.33 Mt @ 0.34% V 2O5
and 234.6 ppm MoO3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5 and 241.9 ppm MoO3 (Dufresne
et al., 2022). The Company is targeting shallow, high -grade mineralisation that can be developed using low -cost mining
and processing options.
The Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property rights associated
with the Solid -State Hydrogen Storage Project from Curtin University in Western Australia. Kotai is focused on the
commercialisation of technology that can produce high-pressure hydrogen following transport as an inert powder.
In October 2023, the Company applied for a package of tenements that are prospective for lithium in eastern Quebec.
Please visit our website at www.veloxenergymaterials.com.au for further information.
Investor Relations Contacts
Andrew Rowell
Investor Relations – Australia
M: +61 400 466 226
Email: [email protected]
Qualified Persons
The Velox Energy Materials scientific and technical information in this news release has been prepared in accordance with
the Canadian regulatory requirements set out in National Instrument 43 -101 (Standards of Disclosure for Mineral
Projects) and reviewed and approved on behalf Velox Energy Materials by Michael Griffiths, FAusIMM, Director & VP
Exploration for Velox Energy Materials, a Qualified Person.
Forward Looking Statements
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.
This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and
projections regarding its business and the economic environment in which it operates. Statements about the closing of
the transaction, expected terms of the transaction, the number of securities of Velox Energy Materials that may be issued
in connection with the transaction, and the parties' ability to satisfy closing conditions and receive necessary approvals
are all forward -looking informat ion. These statements are not guarantees of future performance and involve risks and
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TSX-V Announcement
16 January 2024
uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from
those expressed in these forward -looking statements and readers should not place undue reliance on such statements.
Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them
publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do
so by law.