Business
Surge Battery Metals Announces Amendments to Stock Option Plan and Stock Option Grants and Grant of Stock Options
(TheNewswire) September 7, 2022 – TheNewswire - Vancouver, BC; Sur...
About this update from Surge Battery Metals Inc
[{"type":"text","content":"Surge Battery Metals Announces Amendments to Stock Option Plan and Stock Option Grants and Grant of Stock Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n September 7, 2022 –\n \n \n TheNewswire -\n \n \n Vancouver, BC;\n \n \n Surge\nBattery Metals Inc.\n \n \n (the \"Company\" or\n\"Surge\")\n \n \n (TSXV:NILI\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:NILIF\n \n \n )\n \n \n ,\n \n \n (\n \n \n FRA:DJ5C)\n \n \n is pleased\nto announce that is has amended its 10% rolling stock option plan,\namended the terms of 4,843,000 incentive stock options and granted\n300,000 stock options to an officer of the Company.\n \n \n \n \n Amendments to Stock Option\nPlan\n \n \n \n \n The Company has amended its 10% rolling stock option\nplan (the \"\n \n \n Option\nPlan\n \n \n \") to comply with the requirements of\nthe new TSX Venture Exchange (the \"\n \n \n Exchange\n \n \n \")\npolicy governing security-based compensation which became effective on\nNovember 24, 2021.  The amendments have been conditionally approved\nby the Exchange and are subject to shareholder ratification at the\nCompany's annual meeting of shareholders scheduled for October 20,\n2022 (the \"\n \n \n Meeting\n \n \n \").  Additional details regarding\nthe amendments will be contained in the management information\ncircular to be mailed to the Company's shareholders and filed on SEDAR\nin respect of the Meeting.\n \n \n \n \n Incentive Stock Option\nAmendment\n \n \n \n \n The Company's board of directors has amended the\nexercise price and expiry dates of 4,843,000 stock options in\naccordance with the Option Plan (the \"\n \n \n Amended Options\n \n \n \").  1,040,000 of the Amended Options were granted to\ndirectors and officers of the Company (the \"\n \n \n Amended Insider Options\n \n \n \") and 3,803,000 of the Amended Options were granted to\nconsultants (the \"\n \n \n Amended\nConsultants' Options\n \n \n \"), all for a period of\nfive years.  The Amended Options were originally granted on December\n11, 2017, January 10, 2018, February 9, 2021, April 13, 2021 and\nSeptember 10, 2021 at exercise prices of $0.70, $0.70, $0.105, $0.19\nand $0.21, respectively.  The exercise price of the Amended Options\nhas been amended to $0.06 and expiry date of the Amended Options has\nbeen...