Cornish Metals Inc. has issued 287,914 common shares via the exercise of 750,000 stock options using a “net exercise” which shareholders approved in June 2023.
TVRs
The method involves issuing shares equivalent to the value of the net gain, which is the difference between the exercise price and the market value on the date of exercise.
The 287,914 common shares without par value are at 10 cents each in the share capital of the company.
Following admission, the company’s issued and outstanding share capital will comprise 1,252,701,993 common shares.
Cornish Metals does not hold any common shares in treasury.
The Canadian company is currently advancing the South Crofty tin mine towards production.