- 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
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