Kincora Issues Shares for Services
VANCOUVER, Sept. 27, 2019 /CNW/ - Kincora Copper Ltd. (the "Company", "Kincora") (TSXV: KCC) announces that it will issue 271,875 shares at a deemed price of 0.08 cents per share to certain directors, officers and service providers on account of services rendered during the period January 1 – March 31, 2019.
In addition, the Company will issue 197,727 shares at a deemed price of 0.11 cents per share to certain directors, officers and service providers on account of services rendered during the period April 1, 2019 – June 20, 2019.
The issuance of shares is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange. The services shares are to be subject to a four-month hold period.
The Company's Shares for Services plan covered over these periods was approved by written consent from disinterested shareholders and approved by the TSX Venture Exchange as originally announced November 14, 2016. This plan, and the updated plan passed at the 2019 Annual General Meeting on September 26th, 2019, seek to provide competitive packages to retain and attract key executives, align all senior executives/directors to the creation of value for shareholders and minimize the cash overheads of the Company.
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.
SOURCE Kincora Copper Limited
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