ROUYN-NORANDA, QC, March 15,
2024 /CNW/ - Comet Lithium Corporation (TSXV: CLIC)
(FSE: 8QY) ("Comet Lithium" or the "Corporation") is pleased to
announce that its Board of Directors has approved today a grant of
an aggregate of 230,000 restricted share units ("RSUs") to
the three officers of the Corporation and consultant of the
Corporation, 220,000 deferred share units ("DSUs") to the
non-management directors of the Corporation, and stock options in
respect of an aggregate of 650,000 common shares (the
"Options") to the non-management directors, three officers
of the Corporation and one consultant 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 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.
Each Option entitles the recipient to purchase one common share
of the Corporation at a price of $0.50 per share, which is higher to the closing
price of the Corporation's common shares on the TSX Venture
Exchange on Thursday March 14, 2024.
The Options vest immediately and will expire in five years.
All the forgoing RSUs, PSUs, DSUs and Options are subject to the
terms of the Plan, the applicable grant agreement, and the
requirements of the TSX Venture Exchange.
About Comet Lithium Corporation
Comet Lithium is a dynamic lithium-focused exploration company
active in the prolific James Bay
District of Quebec. Comet
Lithium's flagship asset is its 100%-owned Liberty Property
contiguous to Winsome Resources' Adina lithium deposit, a growing
high-grade lithium discovery. Comet Lithium is advancing its
Liberty Property to first-ever drilling.
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 Comet Lithium Corp.