Defense Metals Grants Incentive Stock Options
VANCOUVER, Dec. 20, 2024 - Defense Metals Corp. ("Defense Metals" or the "Company"; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) announces the grant of 9,950,000 incentive stock options ("Options") to directors, officers and consultants of the Company, subject to TSX Venture Exchange approval. 8,850,000 options are exercisable, each to purchase one common share of the Company for five years at a price of C$0.125 per common share, 400,000 options are exercisable, each to purchase one common share of the Company for five years at a price of C$0.205 per common share and 700,000 options are exercisable, each to purchase one common share of the Company for five years at a price of C$0.26, in accordance with the terms of the Company's stock option plan and subject to certain vesting provisions.
Guy de Selliers, Executive Chairman of the Company, stated:
"With our new CEO and management team on board, it is essential that we grant these options in order to attract and retain the high calibre talent Defense Metals needs to build our flagship Wicheeda Project, for which our new team is working diligently to complete the Prefeasibility Study in Q1, 2025."
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. is focused on the development of its 100% owned, 11,800-hectare (~29,158-acre) Wicheeda REE Project that is located on the traditional territory of the McLeod Lake Indian Band in British Columbia, Canada.
The Wicheeda REE Project, approximately 80 kilometres (~50 miles) northeast of the city of Prince George, is readily accessible by a paved highway and all-weather gravel roads and is close to infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.
For further information, please visit www.defensemetals.com or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Defense Metals Corp.
