GreenLight Metals Announces Grant of Deferred Share Units to Directors

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GreenLight Metals (OTCQB: GRLMF, TSXV: GRL) granted an aggregate of 339,284 deferred share units (DSUs) to its independent directors as compensation for director fees earned in the first and second quarters of 2026. Each DSU is redeemable for one common share, will vest one year after grant, and is to be settled upon a director’s retirement or departure, under the company’s amended and restated equity incentive plan. The grant remains subject to acceptance by the TSX Venture Exchange.

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Medford, Wisconsin--(Newsfile Corp. - July 24, 2026) - GreenLight Metals Inc. (TSXV: GRL) (OTCQB: GRLMF) ("GreenLight" or the "Company") announces that, in accordance with the Company's director compensation policy, the Company has granted an aggregate of 339,284 deferred share units ("DSUs") to its independent directors in respect of director fees earned for the first and second quarters of 2026. All independent directors are paid their director fees entirely in DSUs.

Each DSU can be redeemed for one fully paid and non-assessable common share of the Company issued from treasury. The DSUs were granted in accordance with the Company's amended and restated equity incentive plan (the "Equity Incentive Plan"). The DSUs will vest one year following their grant and will be settled following a director's retirement or other cessation from the board, in accordance with the terms of the Equity Incentive Plan and applicable law. The DSU grant is subject to acceptance by the TSX Venture Exchange.

About GreenLight Metals Inc.

GreenLight is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean Volcanic Belt (one of North America's most prospective VMS districts) and the Kalium Canyon epithermal gold project in Nevada's Walker Lane, which is subject to a binding term sheet for a proposed staged earn-in and joint venture with Barrick Mining Corporation. In Wisconsin, GreenLight's portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulfide targets. GreenLight's flagship Bend Project is posted on the U.S. Federal Permitting Dashboard as a FAST-41 Transparency Project, providing a public framework for tracking applicable federal review and authorization milestones and coordinated support through the Permitting Council. Guided by a team with deep roots in the state, GreenLight is building a modern minerals company for Wisconsin, by Wisconsin, committed to responsible exploration, transparent engagement, and creating durable local opportunities as it helps supply the critical metals that power the energy transition.

For more information, please contact:

Matt Filgate
President & CEO
(778) 679-3579
matt@greenlightmetals.com

Neither 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 news release.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, "forward-looking statements"). All statements in this news release, other than statements of historical fact, are forward-looking statements and are based on the opinions and estimates of management as of the date hereof.

Forward-looking statements in this news release include statements regarding the terms, timing, vesting, settlement and redemption of the DSUs and compliance with, and any applicable acceptance by, the TSX Venture Exchange.

Forward-looking statements are based on assumptions management believes are reasonable as of the date hereof. Forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual events or results to differ materially, including the risk that any applicable TSX Venture Exchange acceptance is not obtained on the terms or timeline expected. Additional risks are described in the Company's public disclosure documents filed on SEDAR+.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise forward-looking statements except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/306361

FAQ

What did GreenLight Metals (OTCQB: GRLMF) announce about director compensation on July 24, 2026?

GreenLight Metals announced it granted 339,284 deferred share units (DSUs) to independent directors as compensation for first and second quarter 2026 director fees. According to GreenLight, all independent directors receive their fees entirely in DSUs under the company’s equity incentive plan.

How many deferred share units did GreenLight Metals (GRLMF) grant to its directors for 2026 fees?

GreenLight Metals granted an aggregate of 339,284 deferred share units (DSUs) to its independent directors. According to GreenLight, these DSUs cover director fees earned for the first and second quarters of 2026 and are issued in line with its equity incentive plan.

When do the GreenLight Metals (GRLMF) director deferred share units vest and settle?

The GreenLight Metals director DSUs vest one year after their grant date and are settled following a director’s retirement or other board departure. According to GreenLight, settlement terms are governed by its amended and restated equity incentive plan and applicable law.

What does each GreenLight Metals (GRLMF) deferred share unit represent for directors?

Each GreenLight Metals deferred share unit can be redeemed for one fully paid, non-assessable common share issued from treasury. According to GreenLight, DSUs are granted under the company’s equity incentive plan as a form of share-based director compensation.

Is the July 2026 GreenLight Metals (GRLMF) DSU grant subject to TSX Venture Exchange approval?

Yes, the July 2026 GreenLight Metals DSU grant is subject to acceptance by the TSX Venture Exchange. According to GreenLight, the DSUs were issued under its amended and restated equity incentive plan, and final exchange acceptance is required for the grant.