Business
Nine Mile Metals Announces Kindred Communication Investor Relations Consulting Agreement, Grants Stock Options, and Makes Anniversary Option Payment on California Lake Project
Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the "Company" or "Nine Mile"), is p
About this update from Nine Mile Metals Ltd.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - NINE MILE METALS LTD. (CSE: NINE) (OTCQB: VMSXF) (FSE: KQ9) (the \"Company\" or \"Nine Mile\"), is pleased to announce that it has entered into a consulting services agreement dated April 5, 2024 (the \"Consulting Agreement\") with Kindred Communications Inc. (\"Kindred\") to support Nine Mile's investor relations activities. The Consulting Agreement will have an initial three month term, starting on the day of this announcement, following which the parties will operate on a month-to-month basis with a 60-day cancellation notice required to terminate. Kindred will provide the Company with social media management on the Company's accounts on Facebook, X, YouTube, LinkedIn and Instagram and may create new social media accounts for the Company, content creation, news release consultation and dissemination, including regulatory filings and updating the Company's website to share the Company's story with the investor audience. During the three-month term of the Consulting Agreement, the Company will pay Kindred $4,000 per month, in arrears. Additionally, Kindred was granted 200,000 stock options. The options will vest immediately and may be exercised at an exercise price of $0.10 per share until the earlier of 24 months, the cessation of services by Kindred to the Company, or otherwise in accordance with the Company's incentive stock option plan. Other than the stock options described above, Kindred Communications does not have any interest, directly or indirectly, in Nine Mile or its securities, or any right or intent to acquire such an interest. STOCK OPTIONS GRANTED The Company also announces that it has granted 1,300,000 stock options to directors and officers, and 200,000 stock options to another consultant of the Company. The options will vest immediately and may be exercised at an exercise price of CAD $0.10 per common share, for a period of 5 years from the date of issuance or earlier in accordance with the Company's incentive stock option plan. Following the grant of stock options, the Company now has a total of 7,250,000 stock options representing 9.9% of the outstanding common shares of the Company. CALIFORNIA LAKE ANNIVERSARY OPTION PAYMENT The Company also announces that it has made payments under its option to Purchase 100% of California Lake and Canoe Lan...