Millennial Lithium Corp. (TSXV: ML) (FSE: A3N2) (OTCQX: MLNLF) (“Millennial” or the “Company”) announces the results of its annual general meeting of shareholders held on April 20th, 2021, in West Vancouver, Canada. Shareholders voted in favour of all items put forward by the board of directors and management including the Company’s Long Term Incentive Plan (the “Plan” as described below).
All six of the individuals nominated for the board of directors were elected and the directors for the ensuing year, with the number of directors fixed at six are: Farhad Abasov, Jack Scott, Graham Harris, Richard Lacroix, Kyle Stevenson and Charles Yeung.
The shareholders also voted in favour of appointing Davidson & Company LLP, as auditor of the company for the ensuing year and authorizing directors to fix the auditors’ remuneration; approving and granting annual approval to the company’s incentive stock option plan; and approving the Company’s performance share unit plan.
Millennial further announces that the Company’s Compensation Committee has approved the award of 2,000,000 PSUs to certain directors, officers, employees and consultants (an “Award Holder”). The 2,000,000 PSUs carry no award price. The 2,000,000 PSUs are subject to certain vesting provisions.
On March 24, 2021, Millennial announced that it had adopted the Plan which provides for the issuance of up to 2,000,000 performance share units (the “PSUs”). Each PSU, when it vests, entitles the holder to acquire one common share (the “PSU Shares”) of the Company. Any PSU Shares issued are subject to a four month resale restriction imposed by TSX Venture Exchange policies which ends four months after the award of the PSU.
The award of the 2,000,000 PSUs represents all of the PSUs available under the Plan. No further PSU awards can be made under the Plan. The Plan has received TSX Venture Exchange approval.
To find out more about Millennial Lithium Corp. please contact Investor Relations at (604) 662-8184 or email info@millenniallithium.com.
MILLENNIAL LITHIUM CORP.
“Farhad Abasov”
President and CEO, Director
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.
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, currency risks including the exchange rate of USD$ for CDN$, fluctuations in the market for lithium, changes in exploration costs and government royalties or taxes in Argentina and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.