CORRECTION FROM SOURCE: CleanTech Issues Shares for Salaries to Align Management and Shareholder Interests
Rhea-AI Summary
CleanTech Vanadium Mining Corp. (TSXV: CTV) (OTCQB: CTVFF) has announced the issuance of common shares as part of its Shares for Services Agreements with senior management, effective from November 1, 2024. Under this agreement, 1,193,203 shares have been issued, representing 15% of senior management salaries. 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.
AI-generated analysis. Not financial advice.
Positive
- Management interests aligned with shareholders through salary-to-shares conversion
- No creation of new Control Person, maintaining current ownership structure
Negative
- Share issuance creates dilution for existing shareholders
News Market Reaction – CTVFF
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/241950