Bacanora Lithium PLC Grant of Options and Restricted Share Units (1632A)
September 07 2018 - 9:03AM
UK Regulatory
TIDMBCN
RNS Number : 1632A
Bacanora Lithium PLC
07 September 2018
Bacanora Lithium plc / Index: AIM / Epic: BCN / Sector: Natural
Resources
Bacanora Lithium plc ("Bacanora" or the "Company")
Grant of Options and Restricted Share Units
Bacanora, the London listed (AIM: BCN) lithium exploration and
development company focused on Sonora, Mexico, announces the grant
of a total of 432,729 options to acquire ordinary shares in the
capital of the Company at a price of 39.25p, being the closing
share price on 6 September 2018, to Ms Janet Boyce, CFO, and Mr
Eric Carter, Project Director.
Ms Boyce will receive 206,693 options and Mr Carter will receive
226,036 options. 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 (3)
years. All of the options granted today (and the common shares
issuable upon exercise) will be subject to applicable securities
law hold periods.
Ms Boyce has also been granted 205,491 restricted share units
with an exercise price of 39.25p under the restricted share unit
plan. Vesting will occur on the date that is three (3) years from
the date of grant, being September 7, 2021. All of the RSUs (and
any common shares issuable upon redemption) will be subject to
applicable securities law hold periods.
**S **
For further information, please contact:
Bacanora Lithium Peter Secker, CEO info@bacanoralithium.com
Plc
Cairn Financial
Advisers LLP, Nomad Sandy Jamieson / Liam Murray +44 (0) 20 7213 0880
-------------------------------- -------------------------
Canaccord Genuity,
Broker Martin Davison / James Asensio +44 (0) 20 7523 8000
-------------------------------- -------------------------
St Brides Partners,
Financial PR Adviser Gaby Jenner / Frank Buhagiar +44 (0) 20 7236 1177
-------------------------------- -------------------------
About Bacanora
The Sonora Lithium Project(1) , 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 a Measured plus Indicated
Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of
Measured Resources and 3.1Mt of Indicated Resources) of LCE(2) and
an additional Inferred Mineral Resource of 3.7 Mt of LCE. The
Company's Feasibility Study (which was announced 12 December 2017)
has established Proven Mineral Reserves (in accordance with NI
43-101) of 1.67 MT and Probable Mineral Reserves of 2.85 Mt LCE and
confirmed the economics associated with becoming a 35,000 tpa
lithium carbonate and 30,000 tpa SOP producer in Mexico. In
addition to the Sonora Lithium Project, the Company also has a 50%
interest in the Zinnwald Lithium Project and the Falkenhain Licence
in southern Saxony, Germany. Each of the Zinnwald Lithium Project
and the Falkenhain Licence are 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 and the Falkenhain Licence provides
close geographical proximity to the German automotive and
downstream lithium chemical industries.
1 The Sonora Lithium Project is comprised of the following
lithium properties: La Ventana lithium concession, which is 100
percent owned by Bacanora and El Sauz and Fleur concessions, which
are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70
percent by Bacanora and 30 percent by Cadence Minerals Plc.
2 LCE = lithium carbonate (Li(2) CO(3) ) equivalent; determined
by multiplying Li value in percent by 5.324 to get an equivalent
Li(2) CO(3) value in per cent. Use of LCE is to provide data
comparable with industry reports and assumes complete conversion of
lithium in clays with no recovery or process losses.
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 Janet Boyce
-------------------------------------------------------------
2 Reason for notification
------------------------- -------------------------------------------------------------
a. Position/Status PDMR
------------------------- -------------------------------------------------------------
b. Initial notification/ Initial notification
Amendment
------------------------- -------------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------------------
a. Name Bacanora Lithium plc
-------------------------
b. LEI 2138006JSN7VQUDINN66
------------------------- -------------------------------------------------------------
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 Options and Restricted Share Units ("RSUs")
the financial over ordinary shares of 10p
instrument, type
of instrument
Identification GB00BD20C246
Code
------------------------- -------------------------------------------------------------
b. Nature of the Grant of Options and RSUs
transaction
------------------------- -------------------------------------------------------------
c. Price(s) and volume(s) Price(s) per Volume(s)
share
------------------------- -------------
39.25 pence 206,693 Options
39.25 pence 205,491 RSUs
------------- ----------------
d. Aggregated information
- Aggregated Volume 412,184
- Price 39.25 pence
------------------------- -------------------------------------------------------------
e. Date of the transaction 7 September 2018
------------------------- -------------------------------------------------------------
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/ Initial notification
Amendment
-------------------------- --------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------------
a. Name Bacanora Lithium plc
--------------------------
b. LEI 2138006JSN7VQUDINN66
-------------------------- --------------------------------------------------------
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 Options over ordinary shares of 10p
the financial
instrument, type
of instrument
GB00BD20C246
Identification
Code
-------------------------- --------------------------------------------------------
b. Nature of the Grant of Options
transaction
-------------------------- --------------------------------------------------------
c. Price(s) and volume(s) Price(s) per Volume(s)
share
-------------------------- --------------
39.25 pence 226,036
-------------------------------------------------- -----------
d. Aggregated information
- Aggregated Volume 226,036
- Price 39.25 pence
-------------------------- --------------------------------------------------------
e. Date of the transaction 7 September 2018
-------------------------- --------------------------------------------------------
f. Place of the transaction London AIM
-------------------------- --------------------------------------------------------
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END
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