Western Magnesium Announces Stock Option Grants
NEW YORK, NY – TheNewswire – December 31, 2020 – Western Magnesium Corporation (TSXV:WMG; Frankfurt-3WM; OTCQB:MLYF) (“Western Magnesium” or the “Company”) today announced that it has granted 15,650,000 incentive stock options pursuant to its Stock Option Plan for its directors, officers, advisors and consultants. The options are exercisable at a price of CAD 0.13 per share and 9,500,00 stock options are exercisable for a period of five years, the remaining 6,150,000 are exercisable for a period of two years.
Any shares issued on the exercise of these stock options will be subject to the holding period as required by the TSX Ventures as well as any additional hold periods as required by US securities law.
This stock option grant is subject to approval by the TSX Venture Exchange.
About Western Magnesium
Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
Company Contact: John Ulmer | [email protected] | 604-423-2709
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward‐looking information except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. These forward-looking statements are made as of the date of this news release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
For additional information please visit our website at www.westmagcorp.com
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