Premium Nickel Resources Ltd. Grants Stock Options

Rhea-AI Summary

Premium Nickel Resources (TSXV: PNRL) has announced the granting of 3,110,000 stock options to various company stakeholders, including directors, officers, employees, and consultants. The options, issued on August 14, 2024, come with an exercise price of $1.10 per share and a five-year term. These options will vest annually in equal thirds, starting from the grant date. This move is likely aimed at aligning the interests of key personnel with those of the company and its shareholders, potentially incentivizing long-term performance and retention.

Positive

• Granting of stock options may align interests of key personnel with company goals
• Five-year term of options encourages long-term commitment

Negative

• Potential dilution of existing shareholders' ownership if options are exercised

Toronto, Ontario--(Newsfile Corp. - August 15, 2024) - Premium Nickel Resources Ltd. (TSXV: PNRL) ("PNRL" or the "Company") announces that, effective August 14, 2024, it has granted to certain directors, officers, employees and/or consultants of the Company and/or its subsidiaries an aggregate of 3,110,000 stock options of the Company ("Options") pursuant to the stock option plan of the Company.

The Options have an exercise price of $1.10 per share and a five-year term from the date of grant, and vest annually in equal thirds beginning on the date of grant.

About Premium Nickel Resources Ltd.

PNRL is a mineral exploration and development company that is focused on the redevelopment of the previously producing nickel, copper and cobalt resources mines owned by the Company in the Republic of Botswana.

PNRL is committed to governance through transparent accountability and open communication within our team and our stakeholders. Our skilled team has worked over 100 projects collectively, accumulating over 400 years of resource discoveries, mine development and mine re-engineering experience on projects like the Company's Selebi and Selkirk mines. PNRL's senior team members have on average more than 20 years of experience in every single aspect of mine discovery and development, from geology to operations.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Morrison
Director and Chief Executive Officer
Premium Nickel Resources Ltd.

For further information about Premium Nickel Resources Ltd., please contact:
Jaclyn Ruptash
Vice President, Communications and Government and Investor Relations
+1 (604) 770-4334

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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/219993

FAQ

How many stock options did Premium Nickel Resources (PNRLF) grant on August 14, 2024?

Premium Nickel Resources granted 3,110,000 stock options on August 14, 2024.

What is the exercise price of the stock options granted by Premium Nickel Resources (PNRLF)?

The exercise price of the stock options granted is $1.10 per share.

What is the vesting schedule for the stock options granted by Premium Nickel Resources (PNRLF)?

The stock options vest annually in equal thirds, beginning on the date of grant.

What is the term of the stock options granted by Premium Nickel Resources (PNRLF)?

The stock options have a five-year term from the date of grant.