Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) has awarded a total of 5,611,843 restricted share units to various employees, executives, directors, and consultants of the company.
The shares are pursuant to a new Share Compensation Plan to be approved by shareholders at an upcoming shareholders’ meeting.
A portion of the restricted share units vest based on the underlying share price performance over a three-year measurement period from the award date.
A further portion of the restricted share units will vest annually over a three-year period from the award date. A further portion of the restricted share units was granted to Non-Executive Directors and will vest upon their departure from the company.
The restricted share units may settle in cash unless otherwise approved by shareholders. The Company’s Share Compensation Plan remains subject to TSX Venture Exchange approval and shareholder approval.
About Surge Copper Corp.
The company owns a 100% interest in the Ootsa Property, an advanced stage exploration project containing the East Seel, West Seel and Ox porphyry deposits located adjacent to the open pit Huckleberry Copper Mine, owned by Imperial Metals.
The Ootsa Property contains pit constrained NI 43-101 compliant resources of copper, gold, molybdenum, and silver in the Measured and Indicated categories.
The company is also earning into a 70% interest in the Berg Property from Centerra Gold. Berg is a large, advanced stage exploration project located 28 km northwest of the Ootsa deposits. Berg contains pit constrained 43-101 compliant resources of copper, molybdenum, and silver in the Measured and Indicated categories.
Combined, the adjacent Ootsa and Berg properties give Surge a dominant land position in the Ootsa-Huckleberry-Berg district and control over four advanced porphyry deposits.
For further information please visit: https://www.surgecopper.com
