VANCOUVER, British Columbia, Sept. 23, 2022 (GLOBE NEWSWIRE) — Arras Minerals Corp. (TSXV: ARK) (“Arras” or the “Company) announces the grant of stock options to an independent director.
The Company’s Board of Directors has authorized, pursuant to its Equity Incentive Plan, the grant of 300,000 stock options (“Options”) to an independent director, effective at the close of trading on September 22, 2022 (“Grant Date”). Each Option entitles the independent director to purchase one common share (each, a “Share”) in the capital of the Company. The Options were awarded at an exercise price of C$0.35 per Share for a five-year term. The Options vest over 3 years, with 1/3 of the Option vesting immediately, 1/3 vesting on September 22, 2023 and 1/3 vesting on September 22, 2024.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Option Agreement on the Beskauga copper and gold project. The Company’s shares are listed on the TSX-V under the trading symbol “ARK”.
On behalf of the Board
Tim Barry, MAusIMM (CP(Geo))
Chief Executive Officer and Director
+1 604 687 5800
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 release.