Hercules Metals Grants Stock Options
Hercules Metals issues 6.65 million new options, replacing a larger cancelled grant and reducing overall option overhang, subject to TSXV acceptance.
Rhea-AI Summary
Hercules Metals (BADEF) granted 6,650,000 incentive stock options on September 16, 2026, to directors, officers, employees and consultants under its omnibus incentive plan.
The grant partially compensates these parties for the earlier cancellation of an aggregate 20,500,000 options previously issued under the same plan. The new options have a five-year term and an exercise price of $1.31 per common share. They vest in three equal tranches over 24 months: one-third on the grant date, one-third on the first anniversary, and one-third on the second anniversary. The option grant remains subject to acceptance by the TSX Venture Exchange.
Positive
- New option grant of 6,650,000 options replaces 20,500,000 cancelled options, reducing potential equity overhang by 13,850,000 options
- Options have a defined $1.31 exercise price and five-year term, aligning incentives over a multi‑year period
Negative
- Potential dilution from 6,650,000 new options if exercised
- Grant of options is conditional on TSX Venture Exchange acceptance
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - September 16, 2026) - Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) ("Hercules" or the "Company") announces that the Company has granted 6,650,000 incentive stock options (the "Options") effective today (the "Grant Date") to certain directors, officers, employees and consultants of the Company pursuant to the Company's omnibus incentive plan approved by shareholders of the Company on July 15, 2022 (the "Plan").
The Options were granted to partially compensate the directors, officers, employees and consultants of the Company for the cancellation of an aggregate of 20,500,000 stock options previously granted under the Plan, as described in the Company's press releases dated July 30, 2026 and August 7, 2026, and the cancellation of which was announced on September 14, 2026.
The Options are exercisable for a period of five years at an exercise price of
The granting of the Options is subject to the acceptance of the TSX Venture Exchange.
About Hercules Metals Corp.
Hercules Metals Corp. (TSXV: BIG) (OTCQB: BADEF) is an exploration Company focused on developing America's newest porphyry copper district, in Idaho.
The
With the potential for significant scale, the Company's management and board of directors aims to deliver value to shareholders through proven discovery success.
For further information, please contact:
George Ogilvie
President & CEO
Telephone: +1 (416) 723-0458
Email: gogilvie@herculesmetals.com
Alison Dwoskin
VP Investor Relations
Telephone: +1 (647) 233-4348
Email: adwoskin@herculesmetals.com
Cautionary Statements Regarding Forward-Looking Information
All statements, other than statements of historical fact, contained or incorporated by reference in this press release constitute "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "assumption", "believe", "developing", "estimate", "expectation", "exploration", "focused", "forward", "future", "intended", "may", "potential", "project", ", and "will", or variations of such words, and similar such words, expressions or statements that certain actions, events, conditions or results will, may, could, or should (or not) be achieved, occur, provide, result or support in the future, or which, by their nature, refer to future events. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements in this press release may include statements regarding future vesting of the Options and acceptance of the grant of the Options by the TSX Venture Exchange.
Although the Company believes the forward-looking statements contained in this press release are reasonable, there can be no assurance that those forward-looking statements will prove to be correct, and any forward-looking statements by the Company are not guarantees of future actions, results or performance. Forward-looking statements are based on assumptions, estimates, expectations, information and opinions, which are considered reasonable and represent best judgment based on available facts, as of the issuance of this press release. If such assumptions, estimates, expectations and opinions prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. The assumptions, estimates, expectations and opinions contained in this press release which may prove to be incorrect include those set forth in this press release, as well as those stated in the Company's other public disclosure in 2026, including its Management's Discussion and Analysis (together with the accompanying financial statements) for the year ended December 31, 2025 and the quarters already ended and reported in 2026 (collectively, the "2026 Disclosure"), available on the Company's website at www.herculesmetals.com and under its issuer profile at www.sedarplus.ca. Forward-looking statements, by their nature, are inherently subject to known and unknown risks, uncertainties, contingencies and other factors which may cause the Company's actual results, activity, performance, developments or achievements, or other future events, to be materially different from any future results, activity, performance, developments or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, estimates, expectations, opinions, risks, uncertainties, contingencies and other factors include those identified herein as well as those set forth in the Company's other 2026 Disclosure, , available on the Company's website at www.herculesmetals.com and/or under its issuer profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those contained in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the issuance of this press release (or as otherwise expressly specified) and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements referenced or contained in this press release are expressly qualified by these Cautionary Statements as well as the cautionary statements and/or notes in the Company's other 2026 Disclosure.
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 press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/314500
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is the vesting schedule for the newly granted Hercules Metals options?
The 6,650,000 options vest in three equal installments over 24 months: one-third vests immediately on the September 16, 2026 grant date, one-third vests on the first anniversary of the grant date, and the remaining one-third vests on the second anniversary.
Why did Hercules Metals grant these new options?
The company granted the options to partially compensate directors, officers, employees and consultants for the cancellation of an aggregate 20,500,000 stock options that had been previously granted under the omnibus incentive plan.
Who is eligible to receive these Hercules Metals stock options?
The options were granted to certain directors, officers, employees and consultants of Hercules Metals under its shareholder-approved omnibus incentive plan.
What regulatory approval is required for the Hercules Metals option grant?
The granting of the 6,650,000 options is subject to the acceptance of the TSX Venture Exchange.