- Ray Nadarajah transitions to an
advisor, stands down from the Board
- Issuance of incentive stock options
MELBOURNE, Australia, May 31, 2024
/CNW/ - Kincora Copper Limited (ASX: KCC) (TSXV: KCC),
Kincora or the Company) advises that non-executive
director Ray Nadarajah has
transitioned to an advisory role having stood down from the
Board.
The Company also announces that it has granted an aggregate of
24.5 million incentive stock options (the Options) to
certain board, senior management, and advisors of Kincora (the
Optionees). Each option is exercisable into one common share
in the capital of the Company (a Common Share) at an
exercise price of A$0.075 per Common
Share with expiry 2 years following the date of grant.
Chair, Cameron McRae, and
President & CEO, Sam Spring,
commented:
"On behalf of the Company, we would
like to thank Ray for his 6 years of service and meaningful
contributions to the Board. We look forward to his continued
strategic thinking, global network and value add to Kincora as an
ongoing advisor.
The issuance of new stock options follows all
prior incentive options to the Board, senior management and
advisors having lapsed, utilising capacity provided for by
shareholders at the last AGM, and, seeks to align interests of key
team members reducing cash costs to the Company and to creating
shareholder value going forward."
This announcement has been authorised for release by the
Board of Kincora Copper Limited (ARBN 645 457 763)
Forward-Looking Statements
Certain information
regarding Kincora contained herein may constitute forward-looking
statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Although Kincora
believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Kincora cautions that
actual performance will be affected by a number of factors, most of
which are beyond its control, and that future events and results
may vary substantially from what Kincora currently foresees.
Factors that could cause actual results to differ materially from
those in forward-looking statements include market prices,
exploitation and exploration results, continued availability of
capital and financing and general economic, market or business
conditions. The forward-looking statements are expressly qualified
in their entirety by this cautionary statement. The information
contained herein is stated as of the current date and is subject to
change after that date. Kincora does not assume the obligation to
revise or update these forward-looking statements, except as may be
required under applicable securities laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) or the Australian Securities
Exchange accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Kincora Copper Limited
