3rd Mar 2017 07:00
Bacanora Minerals Ltd
('Bacanora' or the 'Company')
Stock Option Grants
Bacanora (AIM: BCN, TSXV: BCN), the Canadian and London listed lithium exploration and development company focused on building an international lithium group, announces the grant of an aggregate of 2,937,400 options to acquire common shares in the capital of Bacanora at a price of £0.85 (C$1.39), pursuant to the terms of the Stock Option Plan of the Company.
A total of 425,000 of the foregoing options have been granted to consultants and employees of the Company and its subsidiaries. Such options vest immediately and are exercisable for a period of five years. The remaining 2,512,400 of the foregoing options have been granted to directors, officers and senior management members of the Company and its subsidiaries. Such options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of three years. All of the options granted yesterday (and the common shares issuable upon exercise) will be subject to applicable securities law hold periods.
The options are being granted to Directors and PDMRs of the Company on the following basis:
Optionee | Role | Number of Options | Exercise Price* | Expiry Date |
Jamie Strauss | Director | 750,000 | ₤0.85 (C$1.39) | March 1, 2020 |
James Leahy | Director | 500,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Mark Hohnen | Director | 249,900 | ₤0.85 (C$1.39) | March 1, 2020 |
Raymond Hodgkinson | Director | 200,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Derek Batorowski | Director | 125,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Martin Vidal | Director | 125,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Peter Secker | CEO/PDMR | 300,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Cherif Rifaat | PDMR | 200,000 | ₤0.85 (C$1.39) | March 1, 2020 |
Eric Carter | PDMR | 62,500 | ₤0.85 (C$1.39) | March 1, 2020 |
TOTAL | 2,512,400 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
Bacanora Minerals Ltd. | Peter Secker, CEO | |
Cairn Financial Advisers LLP, Nomad | Sandy Jamieson/Liam Murray
| +44 (0) 20 7213 0880 |
Numis Securities Ltd, Broker | John Prior/James Black/Paul Gillam | +44 (0) 20 7260 1000 |
St Brides Partners, Financial PR Adviser | Frank Buhagiar/ Elisabeth Cowell | +44 (0) 20 7236 1177 |
ABOUT BACANORA:
Bacanora is a Canadian and London listed lithium exploration and development company (TSX-V: BCN and AIM: BCN). The Company is exploring for, and developing a pipeline of international lithium projects, with a primary focus on the Sonora Lithium Project. The Company's operations are based in Hermosillo in northern Mexico. The Company is led by a team with lithium expertise and proven mine development, construction and operations experience.
The Sonora Lithium Project, which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established an Indicated Mineral Resource (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101")) of 4.5 million tonnes (LCE) and 2.7 million tonnes Inferred. A Pre-Feasibility Study completed in Q1 2016 demonstrated the economics associated with becoming a 35,000 tpa lithium carbonate and 50,000 tpa SOP producer in Mexico.
In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project in southern Saxony, Germany. The Zinnwald Lithium Project is located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project allows immediate access to the German automotive and downstream lithium chemical industries.
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Jamie Strauss | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 750,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
750,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | James Leahy | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 500,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
500,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Mark Hohnen | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 249,900
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
249,900
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Raymond Hodgkinson | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 200,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
200,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Derek Batorowski | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 125,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
125,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Martin Vida | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | Director | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 125,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
125,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Cherif Rifaat | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | PDMR | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 200,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
200,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Peter Secker | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | CEO/PDMR | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 300,000
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
300,000
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Notification of a Transaction pursuant to Article 19(1) of Regulation (EU) No. 596/2014 | ||||||||
1 | Details of the person discharging managerial responsibilities/person closely associated | |||||||
a. | Name | Eric Carter | ||||||
2 | Reason for notification | |||||||
a. | Position/Status | PDMR | ||||||
b. | Initial notification/ Amendment | Initial notification | ||||||
3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||
a. | Name | Bacanora Minerals Ltd | ||||||
b. | LEI | N/A | ||||||
4 | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||||
a. | Description of the financial instrument, type of instrumentIdentification Code | Common Shares of no par value CA05634Q1054 | ||||||
b. | Nature of the transaction | Grant of Options | ||||||
c. | Price(s) and volume(s) | |||||||
Price(s) per share | Volume(s) | |||||||
85 pence
| 62,500
| |||||||
| ||||||||
d. | Aggregated information
- Aggregated Volume
- Price |
62,500
85p pence per share | ||||||
e. | Date of the transaction | 2 March 2017 | ||||||
f. | Place of the transaction | London AIM | ||||||
Related Shares:
BCN.L