Surge Copper Reports New Incentive Awards and Update on Properties
Surge Copper Unveils New Equity Incentives
Vancouver, British Columbia – Surge Copper Corp. (TSXV: SURG) (OTCQB: SRGXF) (Frankfurt: G6D2) has announced the granting of equity incentive awards as part of its Share Compensation Plan. The Company has allocated 4,583,334 restricted share units (RSUs) to employees and executives, alongside 3,431,372 deferred share units (DSUs) to non-executive directors. These awards are based on the five-day volume-weighted average price on the TSX Venture Exchange, marking a significant step in the Company's growth strategy.
Details of the Awards
The RSUs are structured to vest in equal annual installments over three years from the date of grant, while the DSUs, which are cash-settled, will vest upon the departure of the individual from the Company. This incentivization is designed to align the interests of executives and directors with the long-term objectives of Surge Copper.
MacLean East Property Acquisition Update
In addition to the incentive awards, Surge Copper is excited to report that it has obtained approval from the TSX Venture Exchange for the MacLean East Property option agreement. Modifications to the agreement now cap the maximum number of Surge shares that can be issued at 18,722,222. Any remaining balance, as applicable, may be compensated in cash.
Implications of the Property Acquisition
This acquisition represents an important milestone for Surge as it continues to enhance its mineral portfolio and leverage the resource potential in the region. The MacLean East Property is strategically significant, providing additional opportunities for growth and further development in a district known for its rich mineral resources.
About Surge Copper Corp.
Surge Copper is pioneering a prominent critical metals district in British Columbia, Canada. The Company boasts a comprehensive mineral claim package that includes several advanced porphyry deposits. These deposits are compliant with NI 43-101 standards and are regarded as vital inputs for modern energy infrastructures and electrification technologies.
Key Projects
One of Surge's flagship projects is the Berg Project, which has already demonstrated promising economic feasibility through its Pre-Economic Assessment (PEA). This assessment highlights a large-scale, sustainable mining project with a robust design. The projected NPV at an 8% discount rate stands at C$2.1 billion, with an impressive Internal Rate of Return (IRR) of 20%, underlining the economic viability based on anticipated long-term metal prices.
Future Prospects for Surge Copper
The outlook for Surge Copper remains optimistic as it advances its exploration efforts. With a 100% interest in both the Berg Project and the Ootsa Property, the Company is committed to revealing significant value through its developments. The Ootsa Property, situated nearby the open-pit Huckleberry Copper Mine, is another vital asset containing compliant resources of copper, gold, molybdenum, and silver.
Leadership and Communication
Leif Nilsson, Chief Executive Officer, leads Surge Copper with a vision of sustainable growth and long-term success. The Company is keen on maintaining clear and open communication with all stakeholders. Interested parties are encouraged to reach out for further information: Riley Trimble, Corporate Communications & Development at +1 604 639 3852 or via email at info@surgecopper.com.
Frequently Asked Questions
What are the recent equity incentives announced by Surge Copper?
Surge Copper announced the granting of 4,583,334 restricted share units (RSUs) to employees and executives, and 3,431,372 deferred share units (DSUs) to non-executive directors, aimed at aligning interests towards the Company’s future.
What is the significance of the MacLean East Property acquisition?
This acquisition is a strategic enhancement of Surge's mineral assets, allowing for further development potential in a known resource-rich area, which is critical for future growth.
How does Surge Copper's Berg Project contribute to its portfolio?
The Berg Project showcases a strong economic outlook with a projected NPV of C$2.1 billion and IRR of 20%, representing a key asset that supports Surge’s long-term viability.
Who is the CEO of Surge Copper and what is his vision?
Leif Nilsson leads Surge Copper, focusing on sustainable development and effective communication with stakeholders for optimal growth and transparency.
What should I do if I want to learn more about Surge Copper?
For further information, you can contact Riley Trimble at +1 604 639 3852 or reach out via email at info@surgecopper.com.
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