ATEX Announces Grant of Restricted Share Units
Rhea-AI Summary
ATEX Resources (TSXV: ATX) has announced the grant of 295,110 restricted share units (RSUs) as part of its 2024 annual performance awards. Of these, 178,510 RSUs were allocated to management and directors. The RSUs will vest after one year and can be settled in either cash or common shares, at the holder's discretion.
The company also provided an update on its investor relations services, confirming Adelaide Capital Markets' continuous engagement since September 2022. Adelaide's services include investor relations strategy, corporate content creation, assistance with public reporting, and hosting virtual webinars. Their monthly fees were $10,000 from July 2023 to July 2024, later reduced to $8,000 from August through November 2024. Adelaide currently holds 343 warrants to purchase ATEX common shares.
Positive
- None.
Negative
- Potential dilution risk from 295,110 RSUs granted
- Monthly IR expenses of $8,000-$10,000 adding to operational costs
News Market Reaction
On the day this news was published, ECRTF declined 4.67%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - February 3, 2025) - ATEX Resources Inc. (TSXV: ATX) ("ATEX" or the "Company") is pleased to announce that it has granted an aggregate of 295,110 restricted share units ("RSU") to certain employees, officers, and directors as a 2024 annual performance award, of which management and directors received 178,510 RSUs. The RSUs were granted in accordance with the Company's restricted share unit plan, will vest on the one year anniversary of grant and are settleable in cash or common shares of ATEX, at the option of the holder once vested.
Investor Relations Service Provider Update
Further to the Company's news releases dated September 12 and December 22, 2022, and December 11, 2024, ATEX confirms that Adelaide Capital Markets ("Adelaide") has been continuously engaged as a provider of investor relations services to the Company since September 2022. These services include advising on the Company's investor relations strategy, updating and creating corporate content, assisting with public reporting and filings, hosting virtual webinars and shareholder engagement. From the period of July 2023 to July 2024, Adelaide's fees were
About ATEX
ATEX is exploring the Valeriano Copper-Gold Project which is located within the emerging copper gold porphyry mineral belt linking the prolific El Indio High-Sulphidation Belt to the south with the Maricunga Gold Porphyry Belt to the north, located in the Atacama Region, Chile. This emerging belt, informally referred to as the Link Belt, hosts several copper gold porphyry deposits at various stages of development including, Filo del Sol (BHP/Lundin Mining), Josemaria (Lundin Mining), Lunahausi (NGEx Minerals), La Fortuna (Teck Resources/Newmont) and El Encierro (Antofagasta/Barrick Gold). The Valeriano Project hosts a large copper gold porphyry mineral resource: 1.41 billion tonnes at
For further information, please contact:
Ben Pullinger,
President and CEO
Email: bpullinger@atexresources.com
Aman Atwal,
Vice President, Business Development and Investor Relations
Email: aatwal@atexresources.com
1-647-287-3778
or visit ATEX's website at www.atexresources.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains forward-looking statements, including predictions, projections, and forecasts. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "planning", "expects" or "does not expect", "continues", "scheduled", "estimates", "forecasts", "intends", "potential", "anticipates", "does not anticipate", or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements.
Such forward-looking statements include, among others: the issuance of common shares or making of cash payments, as applicable, upon settlement of RSUs, including any vesting thereof; as well as those factors disclosed in ATEX's publicly filed documents.
Although ATEX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its regulation services provider has reviewed or accepts
responsibility for the adequacy or accuracy of the content of this news release.
1 Please see NI 43-101 technical report titled "Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile" by Joled Nur, CCCRRM-Chile, and David Hopper, CGeol, with an effective date of September 1, 2023, filed at www.sedarplus.ca on October 25, 2023, for additional details on the 2023 Mineral Resource Estimate for the Valeriano project.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239520
FAQ
How many RSUs did ATEX Resources grant in February 2024?
When will the ATEX Resources RSUs granted in February 2024 vest?
What are Adelaide Capital Markets' monthly fees for IR services to ATEX?
How can ATEX RSU holders settle their vested units?
