Robex Announces Adoption of Deferred Share Unit Plan
QUEBEC CITY, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" or the "Company") (TSXV: RBX) is pleased to announce that the board of directors of the Company has adopted a deferred share unit plan for the Company’s directors (the “DSU Plan”). A copy of the DSU Plan will be made available for review under the Company’s profile on SEDAR+.
Furthermore, on the advice of its Remuneration Committee, the board of directors of the Company has approved the grant of an aggregate of 500,000 deferred share units ("DSUs") and stock options in respect of an aggregate of 6,500,000 common shares (the "Options") to the non-executive directors of the Company and key management personnel. Each DSU entitles the recipient to receive the cash equivalent value of one common share of the Company upon settlement of the DSU. The DSUs awarded will vest in two equal tranches on the Board determining the “performance measures” are achieved subject to the participant’s continued service as a director of the Company. The DSUs will settle following the date upon which the participant ceases to hold any position as a member of the Board and is no longer otherwise employed by the Company or its subsidiaries. Each Option entitles the recipient to purchase one common share of the Company at a price of $2.11 per common share. The Options vest upon the Company’s Remuneration Committee determining if certain “performance measures” are achieved during the period between grant and the earlier of 1 July 2026 and commercial production at the Kiniero Project. The Options will expire in 3 years. The DSUs and Options are subject to the terms of the DSU Plan and the Company’s amended and restated share purchase options plan dated May 15, 2023 respectively and the requirements of the TSX Venture Exchange.
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.
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ROBEX RESOURCES INC.
Matthew Wilcox, Chief Executive Officer
Alain William, Chief Financial Officer
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