MONTREAL, Jan. 27, 2025 (GLOBE NEWSWIRE) -- SRQ Resources Inc. (TSXV: SRQ) ("SRQ” or the "Company) announced today a grant to the Directors and Officers an aggregate of 1,430,000 stock options (Incentive Options), each exercisable to acquire one Common Share at an exercise price of $0.13 on or before January 24, 2035, being the date that is 10 years from their date of grant. The Incentive Options granted in connection with the Annual Grant will vest in four equal instalments over 18 months, with 25% of the Incentive Options vesting on the date hereof, and 25% of the Incentive Options vesting every 6 months afterward. All Incentive Options were granted in accordance with and subject to the Omnibus Equity Incentive Compensation Plan of the Company.
The grant of the Incentive Options are subject to the approval of the TSX Venture Exchange.
About SRQ Resources Inc.
SRQ is a Canadian base metals company exploring for nickel, copper, and platinum in the province of Québec. SRQ owns 1,173 exploration claims in the Canadian province of Québec, with Lac Brulé being the most advanced exploration project. The Lac Brulé property consists of 594 contiguous mining claims covering an area of approximately 24,265 ha, located approximately 148 km west-northwest of the town of Mont-Laurier, Québec. A near-surface, Ni-Cu project, Lac Brulé is located on a 230km² virgin exploration property at a five-hour drive from Montréal. The project's prospectivity for base metals has been confirmed by geological mapping, the presence of a surface gossan, and geophysical surveys. The presence of the historic Renzy Ni-Cu mine located 50 kilometers to the south-east and at the heart of the large regional pattern further adds to the area's mineral exploration appeal.
For more information about SRQ, please visit Sama's website at http://www.srqexploration.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
SRQ RESOURCES INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information or forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are included to provide information about management's current expectations and plans that allows investors and others to have a better understanding of the Company's business plans and financial performance and condition.
All statements, other than statements of historical fact included in this press release, regarding the Company's strategy, future operations, prospects, plans and objectives of management are forward-looking statements.
Forward-looking information is based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such information or statements. There can be no assurance that such information or statements will prove to be accurate. Key assumptions upon which the Company's forward-looking information is based include the Company's expectation that it will be able to obtain necessary disinterested Shareholders and TSXV's approvals with respect to the Cancellation and Replacement.
Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Forward-looking statements are also subject to risks and uncertainties facing the Company's business, any of which could have a material adverse effect on the Company's business. Readers are directed to carefully review the detailed risk discussion in the Company's MD&A for the year ended December 31, 2023 filed on SEDAR+, which discussion is incorporated by reference in this news release, for a fuller understanding of the risks and uncertainties that affect the Company's business and operations.
Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. As such, these risks are not exhaustive; however, they should be considered carefully. If any of these risks or uncertainties materialize, actual results may vary materially from those anticipated in the forward-looking statements found herein. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, readers should not place undue reliance on forward-looking statements.
Forward-looking statements contained herein are presented for the purpose of assisting investors in understanding the Company's rationale behind its strategy and business plans, and may not be appropriate for other purposes. The assumptions referred to above should be considered carefully by readers.
The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.
