Crystal Peak Minerals Inc. Announces Grant of Share Options and Restricted Share Units
TORONTO, Nov. 01, 2019 - Crystal Peak Minerals Inc. (Crystal Peak or the Company) (TSXV: CPM, OTCQX: CPMMF) announced today that it has granted options to purchase common shares of the Company (Options) to certain officers, employees, and contractors; and has issued Restricted Share Units (RSUs) to certain employees and contractors.
Crystal Peak granted an aggregate of 775,000 options to certain officers of the Company; an aggregate of 250,000 options to certain employees of the Company; and an aggregate of 278,400 options to contractors for the Company. The Company granted an aggregate of 1,250,000 RSUs to certain employees of the Company; and an aggregate of 90,000 RSUs to certain contractors of the Company.
All options are exercisable over a period of five years at a price of C$0.13 per common share and shall vest in three equal annual installments on the first, second, and third anniversaries of the Option grant. The RSU grants shall vest in three equal annual installments on the first, second, and third anniversaries of the RSU grants.
The options are granted pursuant to the Company's share option plan, which was reapproved by shareholders at an annual and special meeting of shareholders held on June 4, 2019. The RSUs are granted pursuant to the Company's Restricted Share Units plan, which was approved by shareholders at an annual and special meeting of shareholders held on June 20, 2017.
About Crystal Peak Minerals Inc.
Crystal Peak is focused on the production of premium-priced specialty fertilizers. The Company controls mineral leases on more than 124,000 acres on the Sevier Playa in Millard County, Utah and received the Record of Decision in August 2019 from the U.S. Department of the Interior for its Sevier Playa Project, which is necessary to construct and operate the project. With a brine mineral resource known to contain potassium, magnesium, sulfate, and other beneficial minerals, Crystal Peak is targeting the production of specialty fertilizers and associated products through the use of a low-cost brine extraction and solar evaporation process. Sulfate of Potash (SOP) and other specialty fertilizers are used in the production of high value, chloride-sensitive crops such as tree nuts, fruits, and vegetables.
For further information, please contact:
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 this release.