Mason Resources Announces Approval of New Stock Option Plan

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12/22/2023 - 05:00 PM EST

TORONTO, Dec. 22, 2023 /PRNewswire/ - Mason Resources Inc. ("Mason" or the "Company") (TSXV: LLG) (OTCQX: MGPHF) today announced that the new rolling stock option plan of the Company (the "New Stock Option Plan") was approved by the shareholders of the Company at its annual general meeting of shareholders held on December 19, 2023.

The New Stock Option Plan is a "rolling" stock option plan under Policy 4.4 – Security Based Compensation of the TSX Venture Exchange (the "TSX-V") that allows for a number of options to purchase common shares of the Company ("Options") to be granted equal to up to 10% of the issued and outstanding common shares as at the date of grant. The New Stock Option Plan became effective on December 19, 2023 upon receiving approval from the shareholders of the Company and replaces the existing stock option plan of the Company (the "Legacy Stock Option Plan"). The New Stock Option Plan terminates the Legacy Stock Option Plan and serves as the successor thereto. No further awards will be made under the Legacy Stock Option Plan and each Option granted under the Legacy Stock Option Plan is now governed by the terms and conditions of the New Stock Option Plan. Any grant of Options to a director, officer or investor relations service provider of the Company, and any amendment to any of the foregoing, will be disclosed to the public by way of press release on the day such Option is granted or amended, as applicable. A copy of the New Stock Option Plan is attached as Schedule A to the Company's Management Information Circular dated November 8, 2023 which can be found on the Company's website at https://masonresourcesinc.com/annualmeeting2023/ and on SEDAR+ at www.sedarplus.ca under the Company's profile.

About Mason Resources Inc.

Mason Resources Inc. is a Canadian corporation focused on seeking investment opportunities. Its strategy is to develop vertical and horizontal integration in the mining industry, with a special focus on industrial and specialty minerals, notably battery-related materials and their by-products. Its strategy also includes the development of value-added products, notably for green technologies. The Company currently owns 100% of the rights to the Lac Guéret deposit, one of the richest graphite deposits in the world, which is under an Option and Joint Venture Agreement with Nouveau Monde Graphite Inc. (TSX-V: NOU) (NYSE: NMG). Mason is also the largest shareholder of Black Swan Graphene Inc., a Canadian publicly traded company (TSX-V: SWAN) (OTCQB: BSWGF) focusing on the large-scale production and commercialization of patented high-performance and low-cost graphene products aimed at several industrial sectors, including concrete, polymers, Li-ion batteries and others.

For more information, please visit: www.masonresourcesinc.com

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.

View original content:https://www.prnewswire.com/news-releases/mason-resources-announces-approval-of-new-stock-option-plan-302021952.html