Noront Resources Ltd. (“Noront” or “the Company”) (TSX Venture: NOT) announced today that the Noront Board of Directors has granted 500,998 restricted stock units (RSUs) convertible into common shares of the Company six months from the date of grant, being October 8, 2021.
The Board has also granted options to acquire an aggregate of 6,917,323 common shares of the Company to certain Directors, Officers, Management and Special Advisors of the Company with 4,760,039 of these options vesting immediately and 2,157,284 of these options vesting over two years. These options have an exercise price of $0.24 per share, being the closing market price on the date of grant, and are exercisable for a period of five years.
The options and RSUs were granted pursuant to Noront’s stock option plan and share awards plan, respectively and will be used to compensate, incentivize, and retain key members of the Board and Management team. The issuance of options and restricted stock units are subject to all applicable regulatory and exchange approvals.
About Noront Resources
Noront Resources Ltd. is focused on development of its high-grade Eagle’s Nest nickel, copper, platinum and palladium deposit and the world class chromite deposits including Blackbird, Black Thor, and Big Daddy, all of which are located in the James Bay Lowlands of Ontario in an emerging metals camp known as the Ring of Fire. www.norontresources.com