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Altaley Mining Updates Agreement and Grants Stock Options to Service Provider
(NewsDirect) Altaley Mining Corporation (the “ Company ” or “ Alta...
About this update from Luca Mining Corp
[{"type":"text","content":"Altaley Mining Updates Agreement and \nGrants Stock Options to Service Provider\n \n \n (NewsDirect)\n \n \n Altaley Mining\nCorporation (the “\n \n Company\n \n ” or “\n \n Altaley\n \n ”)\nannounces that it has amended a marketing agreement (“Agreement”)\nwith Peak Investor Marketing (“Peak”) originally dated December 3,\n2021. By mutual agreement Altaley and Peak suspended the Agreement\neffective September 23, 2022. At that time a total of C$36,000 of past\ndue fees were outstanding and payable to Peak by Altaley.\n \n \n On January 5, 2023, by mutual agreement the\nsuspension of the Agreement was lifted and would continue on a\nmonth-to-month basis. It was agreed that the outstanding debt of\nC$36,000 would be paid to Peak on the following payment\nschedule:\n \n \n \n $12,000 upon closing the rights offering announced by Altaley on\nDecember 6, 2022\n \n \n The balance of\n$24,000 to be paid by the end of March 31, 2023\n \n \n \n Altaley also agrees to grant Peak a total of\n100,000 incentive stock options (the “Peak Options”) exercisable\nat the closing price on the date of grant which will be following TSX\nVenture Exchange (“TSXV”) approval. The Peak Options are issued in\naccordance with the terms of the Company’s Incentive Stock Option\nPlan (the “Plan”) and TSXV Policy 4.4, and are subject to the\napproval of the TSXV. The Peak Options vest in four stages over a\nperiod of 12 months, with ¼ of the Peak Options vesting three months\nafter the grant date and every three months thereafter. The Peak\nOptions will expire ninety days after the termination of the\nAgreement.\n \n \n \n About Altaley Mining Corporation\n \n \n \n Altaley\nMining Corporation is a Canadian based mining company with two 100%\nowned Mexican gold, silver, and base metal mining\nprojects.\n \n \n Altaley's Tahuehueto mining project is in\nnorth-western Durango State, Mexico, where construction of an initial\n500 tpd operation is well advanced. The second stage, the 1000 tpd\nproject, will follow immediately after commissioning the initial\nstage. The operation is generating gold, silver, lead, and zinc in\nconcentrates.\n \n \n Campo Morado is an operating polymetallic base\nmetal mine in Guerrero, Mexico, currently producing at an averag...