Velocity Announces Exercise of Warrants and Granting of Stock Options

Rhea-AI Summary

Velocity Minerals (OTCQB: VLCJF) received $1,316,387 from the exercise of warrants that expired December 19, 2025, with 98% of outstanding warrants exercised at an exercise price of $0.18, leaving no outstanding share purchase warrants.

The company granted 3,665,000 stock options to directors, officers, employees and consultants as part of its annual long-term incentive program. Options are exercisable at $0.18 per share for 5 years, vest over 3 years beginning six months after issue, and now represent 8.9% of issued and outstanding stock.

Positive

• Raised $1,316,387 from warrant exercises
• 98% warrant exercise rate eliminates outstanding warrants

Negative

• Issued options now represent 8.9% of issued and outstanding stock, diluting existing shareholders
• 3,665,000 options outstanding exercisable at $0.18 create potential future dilution over 5 years

News Market Reaction – VLCJF

+19.92%

+19.92% Session move

In the trading session that priced this news, VLCJF gained 19.92%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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Vancouver, British Columbia--(Newsfile Corp. - January 21, 2026) - Velocity Minerals Ltd. (TSXV: VLC) (OTCQB: VLCJF) ("Velocity" or the "Company") announces that it has received proceeds of $1,316,387 from exercise of warrants expiring on December 19, 2025. A total of 98% of outstanding warrants were exercised at an exercise price of $0.18 and the Company has no additional outstanding share purchase warrants.

The Company also announces that it has granted 3,665,000 common share stock options (each, an "Option") to various directors, officers, employees and consultants of the Company and its affiliates. The options will form part of the Company's annual grant of long-term incentives. The Options entitle the holder to purchase shares at a price of $0.18 per share for a period of 5 years from the issue date. Options will vest over 3 years, beginning 6 months from the date of issue and vesting in equal tranches bi-annually thereafter. Including this issuance, the Company has now set Options representing 8.9% of the issued and outstanding stock.

On Behalf of the Board of Directors

"Keith Henderson"
President & CEO

For further information, please contact:

Keith Henderson
Phone: +1-604-484-1233
E-mail: info@velocityminerals.com
Web: www.velocityminerals.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the 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/281042

FAQ

How much cash did VLCJF receive from warrant exercises on January 21, 2026?

Velocity received $1,316,387 from warrant exercises.

What percentage of warrants were exercised for VLCJF and are any warrants remaining?

98% of outstanding warrants were exercised and the company reports no additional outstanding share purchase warrants.

How many stock options did Velocity grant and what is the exercise price for VLCJF?

The company granted 3,665,000 options exercisable at $0.18 per share.

What are the vesting and expiry terms of the VLCJF stock options granted on January 21, 2026?

Options vest over 3 years beginning 6 months after issue with equal bi‑annual tranches and expire after 5 years from issue.

How large is the potential dilution from the new option grant for VLCJF shareholders?

Including the new grant, options represent 8.9% of issued and outstanding stock, indicating potential dilution if fully exercised.