Cancellation of Re-priced Options & TSXV Delisting
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Bradda Head Lithium Ltd (AIM: BHL, TSX-V: BHLI), the North America-focused lithium development group, announces that further to its press release dated 3 September 2024 pursuant to which it announced that it had, subject to receipt of necessary approvals from the TSX Venture Exchange ("TSX-V") and disinterested shareholder approval, reduced the exercise price of 9,000,000 outstanding share options (the "Existing Share Options"). The TSX-V declined to provide the necessary approvals to the reduced share price of C$0.03 as these were below the minimum permitted prices under TSX-V rules.
As a result, the Company announces that it has, with the agreement of the applicable optionholders, cancelled the proposed repricing of the Existing Share Options and the original exercise prices of the Existing Share Options remain unchanged.
Directors and persons discharging managerial responsibilities (PDMRs) whose Existing Share Options will retain the original exercise prices are detailed in the table below:
| Director/ PDMR | Options subject to cancelled repricing | Total Options Held |
|---|---|---|
| Ian Stalker | 5,250,000 | 19,250,000 |
| Joey Wilkins | 1,500,000 | 2,500,000 |
| Piotr Schabik | 500,000 | 1,500,000 |
Bradda Head also announces that the ordinary shares of the Company will be voluntarily delisted from the TSX-V on or about 24 October 2024. Bradda Head determined to voluntarily delist from the TSX-V on the basis that the costs of maintaining the TSX-V listing exceed the benefits, given the low trading volumes of the Bradda Head ordinary shares on the TSX-V. The delisting will not affect Bradda Head's listing on AIM and its ordinary shares will continue to be listed on AIM under the symbol "BHL".
For further information please visit the Company's website: www.braddaheadltd.com.
About Bradda Head Lithium Ltd.
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