VANCOUVER, Sept. 27, 2019 /CNW/ - Kincora Copper Ltd. (the
"Company", "Kincora") (TSXV: KCC) announces that it will issue
271,875 shares at a deemed price of 0.08
cents per share to certain directors, officers and service
providers on account of services rendered during the period
January 1 – March 31, 2019.
In addition, the Company will issue 197,727 shares at a deemed
price of 0.11 cents per share to
certain directors, officers and service providers on account of
services rendered during the period April 1,
2019 – June 20, 2019.
The issuance of shares is subject to a number of conditions,
including receipt of all necessary corporate and regulatory
approvals, including approval of the TSX Venture Exchange. The
services shares are to be subject to a four-month hold period.
The Company's Shares for Services plan covered over these
periods was approved by written consent from disinterested
shareholders and approved by the TSX Venture Exchange as originally
announced November 14, 2016. This
plan, and the updated plan passed at the 2019 Annual General
Meeting on September 26th,
2019, seek to provide competitive packages to retain and attract
key executives, align all senior executives/directors to the
creation of value for shareholders and minimize the cash overheads
of the Company.
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 release.
SOURCE Kincora Copper Limited