Vancouver, British Columbia – TheNewswire – November 16, 2020 – Lido Minerals Ltd. ("Lido" or the "Company") (CSE:LIDO) (CNSX:LIDO.CN) is pleased to announce that it has granted 50,000 incentive stock options to Paul Teniere, the Company’s Chief Executive Officer (the "Insider") to purchase up to 50,000 common shares ("Shares") of the Company at an exercise price of $0.215 per Share, pursuant to the Company’s Stock Option Plan. The options will vest quarterly over a period of 12 months and are valid for a period of five years from grant.
In additional to the options, the Company has also issued 250,000 Shares to the Insider in satisfaction of a consulting agreement dated November 15, 2020, regarding certain management consulting fees. The Shares have been issued at a deemed value of $0.215 per Share. The Shares shall vest quarterly over a period of 12 months from issuance.
All securities issued will be subject to a statutory hold period of four months plus a day from issuance in accordance with applicable securities laws.
The share issuance to the Insider is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insider does not exceed 25% of its market capitalization.
About Lido Minerals Ltd.
Lido Minerals Ltd. is a mineral exploration company with an option, through its wholly-owned subsidiary, to acquire a 100% interest in the Nimpkish mineral property in the Province of British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
Paul Teniere, M.Sc., P.Geo.
Chief Executive Officer
(604) 687-2038
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Notice Regarding Forward Looking Information:
Certain statements regarding Lido, including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Lido’s control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Cautionary Note: This news release contains certain forward-looking statements, including statements regarding the Company’s business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: changes in metal prices, changes in the availability of funding; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ marginally from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.
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