Pure Energy Minerals Grants Stock Options

Rhea-AI Summary

Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has granted 800,000 stock options to directors, officers, and consultants. The options have an exercise price of C$0.30 per share, vest over one year, and expire in five years. This grant is subject to TSX Exchange approval.

Additionally, the company has appointed Ms. Ann Fehr as Corporate Secretary, replacing Ms. Yulia McCutcheon. Pure Energy expressed gratitude for Ms. McCutcheon's contributions during her tenure as Corporate Secretary over the past year.

Positive

• Granted 800,000 stock options to directors, officers, and consultants, potentially aligning their interests with shareholders
• Appointed new Corporate Secretary, potentially bringing fresh perspective to the role

Negative

• Potential dilution of existing shareholders' equity due to the issuance of 800,000 stock options

Vancouver, British Columbia--(Newsfile Corp. - August 22, 2024) - Pure Energy Minerals Ltd. (TSXV: PE) (OTCQB: PEMIF) ("Pure Energy" or "the Company") announces that it has granted a total of 800,000 stock options (the "Options") to directors, officers and consultants of the Company to purchase common shares of the Company in accordance with its approved Stock Option Plan. The Options vest over one year and are issued at an exercise price of C$0.30 per share with expiry of five years from the date of issuance. The Option grant is subject to TSX Exchange approval.

The Company is also pleased to announce the appointment of Ms. Ann Fehr as Corporate Secretary and extends its appreciation to Ms. Yulia McCutcheon for her dedication and contributions to Pure Energy as Corporate Secretary during the past year, and wishes her well in future endeavours.

About Pure Energy

Pure Energy Minerals is a lithium resource company that has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest land holdings in the valley.

Pure Energy's strategic partner, SLB, is operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB in the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate ("lithium hydroxide" or "LiOH∙H2O") and/or lithium carbonate ("Li2CO3") products at a specified rate. For further details regarding SLB's participation, please refer to Pure Energy's Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on SEDARplus.com.

On behalf of the Board of Directors,
"Joseph Mullin"
CEO, Pure Energy Minerals Ltd.

CONTACT:

Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone - +1 604 608 6611

Cautionary Statements and Forward-Looking Information

The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include future exploration and development on the Clayton Valley Project. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.

The Company does not undertake to update any forward-looking information, except as required by applicable laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of 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/220890

FAQ

How many stock options did Pure Energy Minerals (PEMIF) grant on August 22, 2024?

Pure Energy Minerals granted a total of 800,000 stock options to directors, officers, and consultants on August 22, 2024.

What is the exercise price and expiry of the stock options granted by Pure Energy Minerals (PEMIF)?

The stock options were granted at an exercise price of C$0.30 per share and have an expiry of five years from the date of issuance.

Who was appointed as the new Corporate Secretary of Pure Energy Minerals (PEMIF)?

Ms. Ann Fehr was appointed as the new Corporate Secretary of Pure Energy Minerals.

What is the vesting period for the stock options granted by Pure Energy Minerals (PEMIF)?

The stock options granted by Pure Energy Minerals vest over a period of one year.