Abcourt Appoints a New Director and Grants Stock Options

Executive Summary

• Amélie Rouleau has been appointed to the Board of Directors, replacing Loic Bureau.
• The Corporation has approved an amendment to increase the maximum number of common shares available under its Stock Option Plan to 119,026,226 shares.
• A total of 51,600,000 stock options have been granted to directors, officers, employees, and consultants at an exercise price of $0.10 per share.
• Marc Boudreault has been appointed as a Strategic Advisor to assist with strategic positioning and financing opportunities.

Key Details

• Board Appointment:
  • Amélie Rouleau joins the Board effective immediately, filling the vacancy left by Mr. Loic Bureau.
  • Ms. Rouleau brings over 18 years of experience in mining and metallurgy, including roles at Glencore (Raglan Mine).
• Stock Option Plan Amendment:
  • The maximum number of common shares issuable under the Plan will increase to 119,026,226 (approximately 10% of issued and outstanding shares).
  • The amendment is subject to approval by the TSX Venture Exchange and shareholders at the next annual/general meeting.
• Stock Option Grants:
  • Total options granted: 51,600,000.
  • Allocation to directors and senior management: 23,500,000 options.
  • Exercise price: $0.10 per common share.
  • Term: 5 years.
  • Vesting schedule: 20% upon approval of the Plan amendment, with the remaining 20% vesting annually on each anniversary of the grant.
• Strategic Advisor Appointment:
  • Marc Boudreault appointed as Strategic Advisor.
  • Role focus: Supporting strategic positioning and identifying investment and financing opportunities.