CALGARY, ALBERTA–(Marketwired – March 2, 2017) – BACANORA MINERALS LTD. (“Bacanora” or the “Company”) (TSX VENTURE:BCN)(AIM:BCN), the Canadian and London listed lithium exploration and development company focused on building an international lithium group, announces the grant of an aggregate of 2,937,400 options to acquire common shares in the capital of Bacanora at a price of £0.85 (C$1.39) pursuant to the Stock Option Plan of the Company.
A total of 425,000 of the foregoing options have been granted to consultants and employees of the Company and its subsidiaries. Such options vest immediately and are exercisable for a period of five (5) years. The remaining 2,512,400 of the foregoing options have been granted to directors, officers and senior management members of the Company and its subsidiaries. Such options vest as to 1/3 on the date of grant and an additional 1/3 on each of the first and second anniversaries of the date of grant and are exercisable for a period of three (3) years. All of the options granted today (and the common shares issuable upon exercise) will be subject to applicable securities law hold periods.