VANCOUVER, BC, Jan. 6, 2025
/CNW/ - GR Silver Mining Ltd. ("GR Silver
Mining" or the "Company") (TSXV: GRSL) (OTCQB: GRSLF)
(FRANKFURT: GPE) –announces that the Company has granted Deferred
Share Units ("DSUs") to eligible persons in accordance with
the Omnibus Long-Term Incentive Plan (the "Plan") approved
by the Board on August 2, 2022 and
approved by shareholders at the Company's Annual General Meeting
held on November 12, 2024, and
subject to the policies of the TSX Venture Exchange (the
"TSXV").
A total of 145,452 deferred share units (each, a "DSU")
were granted to the Company's non-executive directors for
director's fees relating to the calendar quarter ended December 31, 2024, which DSUs will vest one year
after their date of grant in accordance with TSXV policies. The
Board has adopted a director fee equity compensation package
whereby for each calendar quarter until resolved otherwise by the
Board, each non-executive director will receive DSUs equal in
value to $6,000, with the number of
DSUs to be determined based on the closing price of the Company's
common shares at the applicable quarter end.
Once vested, each DSU entitles the holder thereof to receive
either one common share of the Company, the cash equivalent of one
common share or a combination of cash and common shares, as
determined by the Company, net of applicable withholdings. DSUs may
not be settled until a director ceases to serve as a director of
the Company. The Plan includes (i) a rolling 10% stock option plan,
and (ii) a fixed 10% plan which permits the Company to issue up to
19,521,680 shares on settlement of all non-stock option awards
issued under the Plan (including DSUs and PSUs). Following the
above-noted grants, there are 2,188,520 shares issuable on
settlement of all outstanding DSUs and PSUs.
About GR Silver Mining Ltd.
GR Silver Mining is a Canadian-based, Mexico-focused junior mineral exploration
company engaged in cost effective silver-gold resource expansion on
its 100%-owned assets, located on the eastern edge of the Rosario
Mining District, in the southeast of Sinaloa State, Mexico. GR Silver Mining controls 100% of the
Plomosas Project, including the former Plomosas underground mine
and wide, high-grade silver mineralized zones at the San Marcial
Area. Recent discoveries in the 78 km2 of highly
prospective advanced stage exploration concessions, position the
Company well in the pursuit for resource expansion at the Plomosas
Project.
GR Silver Mining Ltd.
Eric Zaunscherb, Chair &
CEO
Cautionary Statement Regarding Forward-Looking
Information
This press release contains "forward-looking statements"
within the meaning of applicable Canadian securities legislation
and information that are based on the beliefs of management and
reflect the Company's current expectations. When used in this press
release, the words "estimate", "project", "belief", "anticipate",
"intend", "expect", "plan", "predict", "may" or "should" and the
negative of these words or such variations thereon or comparable
terminology are intended to identify forward-looking statements and
information.
Such statements and information reflect
the current view of the Company. Risks and uncertainties
may cause actual results to differ materially from those
contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause our
actual results, performance or achievements, or other future
events, to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements.
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 press release.
SOURCE GR Silver Mining Ltd.
