VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Cornish Metals (TSX-V: CUSN) announces that the Board of Directors has approved the issuance of 5,150,000 incentive stock options (“options”) to Directors and Senior Management. The options have an exercise price of 10c per share and are valid for a 5 year period (expiring August 18, 2025). The options have a 12 month vesting period, with 20% vesting immediately and 20% vesting on quarterly basis over the next 12 months.
The Company’s Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the company has 11,150,000 options issued, representing 8.3% of the issued and outstanding share capital.
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P.Geo
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.