Business
AGM Held on July 19, 2023
WEST VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / Surge Battery Metals Inc. (the " Company " or ...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"AGM Held on July 19, 2023WEST VANCOUVER, BC / ACCESSWIRE / July 24, 2023 / Surge Battery Metals Inc. (the \"Company\" or \"Surge\") (TSXV:NILI)(OTC PINK:NILIF)(FRA:DJ5C) is pleased to announce that at the Company's 2023 AGM held on July 19, 2023 (the \"AGM\"), Dr. Vijay Mehta, Greg Reimer, Graham Harris, Iain Scarr and Ted O'Connor were elected as directors of the Company for the ensuing year. The election of Dr. Mehta came after the resignation of Robert Culbert from the Board of Directors which resignation was announced by the Company on July 13, 2023. Mr. Culbert's resignation occurred after the mailing of the Company's management information circular for the AGM.As well, at the AGM shareholders approved the Company's proposed new omnibus security based compensation plan (the \"New Plan\"). The New Plan provides for the grant of up to that number of incentive stock options, on a \"rolling\" basis, which is equal to five (5%) percent of the issued and outstanding shares at the time of the grant. The New Plan also provides for the issuance of up to 7,109,000 restricted share units (the \"RSUs\") and 7,109,000 performance share units (the \"PSUs\").No PSUs or RSUs have been granted by the Company. Those previously announced and still outstanding incentive stock options of the Company granted under the Company's previous security based compensation plan (the \"Previous Stock Option Plan\") are continued under the New Plan. There are a total of 7,100,000 incentive stock options of the Company outstanding as of today's date.The New Plan, effective on July 19, 2023, replaced the Company's Previous Stock Option Plan. The New Plan is subject to the final approval of the Exchange. A copy of the New Plan was attached to the Company's Management Information Circular for the AGM and can be found by accessing the Company's Issuer Profile on sedar.com and reviewing the Company's June 22, 2023 filing of its management information circular.About Surge Battery Metals Inc.The Company is a Canadian-based mineral exploration company active in the exploration for lithium in Nevada whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market.About the Nevada North Lithium ProjectThe Company owns a 100% interest, without any royalties,...