Western Metallica Receives Exchange Approval ON Omnibus Incentive Plan
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WESTERN METALLICA RECEIVES EXCHANGE APPROVAL
ON OMNIBUS INCENTIVE PLAN
TORONTO, ONTARIO – October 20, 2022 – Western Metallica Resources Corp. (TSXV:
WMS) (“Western Metallica ” or the “ Company”) is pleased to announce that it has
received approval from the Exchange to proceed with the implementation of the
Company’s Omnibus Incentive Plan as more particularly described in the Company’s
Management Information Circular dated August 11, 2022, a copy of which can be found
at www.sedar.com.
Grant of Stock Options
In addition, the Company announces that it has granted a total of 500,000 incentive stock
options to a newly appointed Director, Brigitte Berneche and newly appointed officer, Soo-
Whan Kim. The incentive stock options have an exercise price of $0.20 per share and are
valid for a 5 -year period from the date of grant. The options shall vest immediately The
Options have been granted pursuant to the Company’s Omnibus Incentive Plan and are
subject to the terms of the applicable grant agreement and the requirements of the TSX
Venture Exchange.
The Company's Omnibus Incentive Plan allows for the issuance of up to 10% of issued
and outstanding share capital in the form of incentive stock options. As a result of this
grant, the Company has 4,880,000 stock options issued, representing 9.4% of the issued
and outstanding share capital.
About Western Metallica Resources Corp.
Western Metallica is an Ontario company with its head office in Toronto, Ontario. Western
Metallica is in the business of mineral resource exploration and development, its principal
asset is its 100% owned Penedela Gold Property in the “Navelgas Gold Belt” in Asturias,
Spain. Western Metallica also has an interest in two other Spanish gold projects in the
“Navelgas Gold Belt” in Asturias (Valledor and Sierra Alta) and one project located in
Andalucia (Nueva Celti).
Further information of the Company can be found at: www.westernmetallica.com.
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Contact
CEO and Director, Gregory Duras: [email protected]
or
Investor Relations: [email protected]
Cautionary Note Regarding Forward-Looking Information
This news release contains forward -looking information that involves substantial known and
unknown risks and uncertainties, most of which are beyond the control of Western Metallica Corp.
Forward looking statements include statements regarding the acquisition of an interest in the Sierra
Alta Project and the timing thereof , timing of filing of Sierra Alta Technical Report and final approval
of the Exchange . Such statements are subject to risks and uncertainties that may cause actual
results, performance or developments to differ materially from those contained in the statements,
including risks related to factors beyond the con trol of the Company. Although Western Metallica
Corp. believes that the assumptions and factors used in preparing the forward -looking information
in this news release are reasonable, undue reliance should not be placed on such information,
which only appli es as of the date of this news release, and no assurance can be given that such
events will occur in the disclosed time frames or at all. Western Metallica Corp. disclaims any
intention or obligation to update or revise any forward -looking information, whe ther as a result of
new information, future events or otherwise, other than as required by law.
This News Release contains forward-looking statements. In some cases, you can identify forward -looking
statements by terminology such as "may", "should", "expec ts", "plans", "anticipates", "believes",
"estimates", "predicts", "potential" or "continue" or the negative of these terms or other comparable
terminology. These statements are only predictions and involve known and unknown risks, uncertainties
and other f actors that may cause our or our industry's actual results, levels of activity, performance or
achievements to be materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.
Although the Company believes that the assumptions and factors used in preparing the forward -looking
information in this news release are reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release. The Company disclaims any intention or obligation
to update or revise any forward -looking information, whether as a result of new information, future events
or otherwise, other than as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.