CleanTech Issues Shares for Salaries to Align Management and Shareholder Interests
Rhea-AI Summary
CleanTech Vanadium Mining Corp (TSXV: CTV) (OTCQB: CTVFF) has issued 1,193,203 common shares to its senior management team as part of their Shares for Services Agreements, effective from November 1, 2024. This share issuance represents 15% of senior management salaries and follows previous announcements made on October 8, 2024, and November 14, 2024.
The issued securities are subject to a four-month regulatory hold period. The company has confirmed that these share issuances have not created a new Control Person.
Positive
- Management interests aligned with shareholders through salary-to-shares conversion
- No creation of new Control Person maintains current shareholder structure
Negative
- Share issuance of 1,193,203 shares causes dilution for existing shareholders
News Market Reaction 1 Alert
On the day this news was published, CTVFF declined 7.34%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2025) - CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) ("CleanTech" or the "Company") announces that the following CleanTech common shares were issued pursuant to the Shares for Services Agreements with its senior management team effective November 1, 2024 and detailed in the news releases dated October 8, 2024 and November 14, 2024 (the "Shares for Services Agreement").
Since November 1, 2024, 1,193,203 shares have been issued under the Shares for Services Agreements in lieu of
The table below sets out each individual issuance:
| Name of Officer | Date of Issuance | Number of Shares | CAD $ Amount | Deemed Price per Share |
| Alex Bayer (Bayer Law Corporation) | November 1, 2024 | 33,332 | ||
| Alex Bayer (Bayer Law Corporation) | December 1, 2024 | 37,037 | ||
| Rob Van Drunen | December 1, 2024 | 92,593 | ||
| John Lee | December 1, 2024 | 44,444 | ||
| Ron Espell | December 1, 2024 | 142,694 | ||
| Alex Bayer (Bayer Law Corporation) | January 2, 2025 | 41,667 | ||
| Rob Van Drunen | January 2, 2025 | 104,167 | ||
| John Lee | January 2, 2025 | 50,000 | ||
| Ron Espell | January 2, 2025 | 164,874 | ||
| Alex Bayer (Bayer Law Corporation) | February 3, 2025 | 55,556 | ||
| Rob Van Drunen | February 3, 2025 | 138,889 | ||
| John Lee | February 3, 2025 | 66,667 | ||
| Ron Espell | February 3, 2025 | 221,283 | ||
| TOTAL: | 1,193,203 |
Securities issued pursuant to the Shares for Services Agreement are subject to regulatory four month hold periods.
The Company confirms that these shares issuances have not resulted in the creation of a new Control Person.
About CleanTech Vanadium Mining Corp.
CleanTech is an exploration-stage mining company focused on vanadium and critical mineral resources. The Company owns a
Further information on CleanTech can be found at www.cleantechvanadium.com
CLEANTECH VANADIUM MINING CORP.
ON BEHALF OF THE BOARD
John Lee
Chief Executive Officer
For more information about CleanTech, please contact:
Suite 1610 - 409 Granville Street
Vancouver, BC V6C 1T2
Phone: 1.877.664.2535
Email: info@cleantechvanadium.com
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241853
FAQ
How many shares did CleanTech Vanadium (CTVFF) issue for management salaries in February 2025?
What is the hold period for CTVFF shares issued under the Shares for Services Agreement?
When did CleanTech Vanadium (CTVFF) implement the Shares for Services Agreement?
What percentage of management salaries does CTVFF pay in shares?
