ROUYN-NORANDA, QC , April 21,
2023 /CNW/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("X-Terra" or the "Corporation")
announces that its Board of Directors has approved a grant of an
aggregate of 200,000 restricted share units ("RSUs") and
150,000 performance share units ("PSUs") to the officers of
the Corporation, and 80,000 deferred share units ("DSUs") to
the external directors of the Corporation in accordance with the
Corporation's Omnibus Equity Incentive Plan (the
"Plan").
Each RSU entitles the recipient to receive one common share of
the Corporation, or a cash payment equal to the equivalent for one
common share of the Corporation, following the vesting period of
the RSUs. The RSUs awarded will fully vest on the first anniversary
of the date of grant.
Each PSU entitles the recipient to receive one common share of
the Corporation, or a cash payment equal to the equivalent for one
common share of the Corporation, following the vesting period and
the achievement of the vesting conditions of the PSUs. The PSUs
awarded will fully vest upon the later of the first anniversary of
the date of grant and achievement of certain corporate performance
objectives.
Each DSU entitles the recipient to receive one common share of
the Corporation upon settlement of the DSU. The DSUs awarded will
fully vest on the first anniversary of the date of grant and will
settle on the termination of service.
All the forgoing RSUs, PSUs and DSUs are subject to the terms of
the Plan, the applicable grant agreement, and the requirements of
the TSX Venture Exchange.
About X-Terra
X-Terra Resources is a resource company focused on acquiring and
exploring lithium and precious metals properties in
Canada.
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 the release
SOURCE X-Terra Resources Inc.