Announces Grant of Stock Options
XXIX
Announces Grant of Stock Options
TORONTO, ONTARIO
–
Februar
y
7
th
, 202
5
–
XXIX Metal
Corp
. (“
XXIX
” or the “Company”) (
XXIX
: TSXV |
QCCUF
:
OTC)
is pleased to announce that the Board of Directors has approved the grant of stock options
to
certain directors, officers, and consultants of the Company,
allowing for the acquisition of up to, in the
aggregate,
3,675
,000
shares of the Company.
2,900,000 stock options were granted to certain directors
and officers of the Company.
The options are exercisable at a price of CAD $
0
.
12
per share
for five (5)
years from the date of grant, vest one (1) year from the date of grant and are subject to regulatory policies
and approvals.
The grant of options to certain directors and officers is a "related party transaction"
under Multilateral
Instrument 61
-
101
-
Protection of Minority Security Holders in Special
Transactions ("MI 61
-
101"). The
Company relied on the exemptions from the formal valuation and minority
shareholder approval
requirements of MI 61
-
101 contained in Sections 5.5(a) and 5.7(1)(a) of MI
61
-
101 in respect of related
party matters, as the Company is listed on the TSX Venture Exchange ("TSXV") and neither the fair
m
arket
value (as determined under MI 61
-
101) of the subject matter of, nor the fair market value of
the
consideration for, the transaction, insofar as it involves the related parties, exceeded 25% of the
Company's market capitalization (as determined under MI 61
-
101).
About XXIX Metal Corp.
XXIX is advancing its Opemiska and Thierry Copper projects, two significant Canadian copper assets. The
Opemiska Project, Canada's highest
-
grade copper resource, spans 13,000 hectares in Quebec's Chapais
-
Chibougamau region, with strong infrastructure and n
earby access to the Horne Smelter. A January 2024
resource update reported a 16% increase in contained Copper Equivalent (CuEq) and a 10% grade boost,
including 87.3 million tonnes at 0.93% CuEq (Measured & Indicated) and additional Out of Pit resources.
T
he Thierry Project hosts two past
-
producing open pits that transitioned to underground mining
-
producing 5.8Mt @ 1.13% Cu, 0.14% Ni between 1976
-
1982 by UMEX Inc. Historically, copper
concentrate was shipped to the Horne Smelter in Rouyn
-
Noranda, QC.
For further information, please contact:
Stephen Stewart, Chief Executive Officer
Phone: 416.644.1567
Email:
Forward
-
Looking Statements
Certain information set forth in this news release contains forward
-
looking statements or information
("forward
-
looking statements)", including details about the business of the Company. All statements in
this news
release, other than statements of historical facts, that address events or developments that the
Company
expects to occur, are forward
-
looking statements
. By
their nature, forward
-
looking statements
are subject to numerous risks and uncertainties, some of which are beyond the Company's contro
l,
including
the impact of general economic conditions, industry conditions, volatility of commodity prices,
currency
fluctuations, environmental risks, operational risks, competition from other industry participants,
stock market
volatility. Although the Company believes that the expectations in its forward
-
looking
statements are
reasonable, its forward
-
looking statements have been based on factors and assumptions
concerning future
events which
may prove to be inaccurate. Those factors and assumptions
are based
upon currently available
information. Such statements are subject to known and unknown risks,
uncertainties and other factors that
could influence actual results or events and cause actual results or
events to differ materially from those
stated, anticipated or implied in the forward
-
looking statements.
Accordingly, readers are cautioned not to
place undue reliance on the forward
-
looking statements, as no
assurance can be provided as to future results,
levels of activity or achievements. Ris
ks, uncertainties,
material assumptions and other factors that could
affect actual results are discussed in the Company
'
s
public disclosure documents available at www.sedar
plus.ca
. Furthermore, the forward
-
looking statements
contained in this document are made as of the
date of this document and, except as required by applicable
law, the Company does not undertake any
obligation to publicly update or to revise any of the included
forward
-
looking statements, whether as a result of
new information, future
events or otherwise. The
forward
-
looking statements contained in this document are
expressly qualified by this cautionary
statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.