Bacanora Lithium PLC Grant of Options and Restricted Share Units (1632A)

TIDMBCN

RNS Number : 1632A

Bacanora Lithium PLC

07 September 2018

Bacanora Lithium plc / Index: AIM / Epic: BCN / Sector: Natural Resources

Bacanora Lithium plc ("Bacanora" or the "Company")

Grant of Options and Restricted Share Units

Bacanora, the London listed (AIM: BCN) lithium exploration and development company focused on Sonora, Mexico, announces the grant of a total of 432,729 options to acquire ordinary shares in the capital of the Company at a price of 39.25p, being the closing share price on 6 September 2018, to Ms Janet Boyce, CFO, and Mr Eric Carter, Project Director.

Ms Boyce will receive 206,693 options and Mr Carter will receive 226,036 options. 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.

Ms Boyce has also been granted 205,491 restricted share units with an exercise price of 39.25p under the restricted share unit plan. Vesting will occur on the date that is three (3) years from the date of grant, being September 7, 2021. All of the RSUs (and any common shares issuable upon redemption) will be subject to applicable securities law hold periods.

**S **

For further information, please contact:

 
 Bacanora Lithium         Peter Secker, CEO                 [e-mail] 
  Plc 
 Cairn Financial 
  Advisers LLP, Nomad     Sandy Jamieson / Liam Murray      [phone] 
                         --------------------------------  ------------------------- 
 Canaccord Genuity, 
  Broker                  Martin Davison / James Asensio    [phone] 
                         --------------------------------  ------------------------- 
 St Brides Partners, 
  Financial PR Adviser    Gaby Jenner / Frank Buhagiar      [phone] 
                         --------------------------------  ------------------------- 
 

About Bacanora

The Sonora Lithium Project(1) , which consists of ten mining concession areas covering approximately 100 thousand hectares in the northeast of Sonora State. The Company, through drilling and exploration work to date, has established a Measured plus Indicated Mineral Resource estimate of over 5 Mt (comprising 1.9Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE(2) and an additional Inferred Mineral Resource of 3.7 Mt of LCE. The Company's Feasibility Study (which was announced 12 December 2017) has established Proven Mineral Reserves (in accordance with NI 43-101) of 1.67 MT and Probable Mineral Reserves of 2.85 Mt LCE and confirmed the economics associated with becoming a 35,000 tpa lithium carbonate and 30,000 tpa SOP producer in Mexico. In addition to the Sonora Lithium Project, the Company also has a 50% interest in the Zinnwald Lithium Project and the Falkenhain Licence in southern Saxony, Germany. Each of the Zinnwald Lithium Project and the Falkenhain Licence are located in a granite hosted Sn/W/Li belt that has been mined historically for tin, tungsten and lithium at different times over the past 300 years. The strategic location of the Zinnwald Lithium Project and the Falkenhain Licence provides close geographical proximity to the German automotive and downstream lithium chemical industries.

1 The Sonora Lithium Project is comprised of the following lithium properties: La Ventana lithium concession, which is 100 percent owned by Bacanora and El Sauz and Fleur concessions, which are held by Mexilit S.A. de C.V. ('Mexilit') which is owned 70 percent by Bacanora and 30 percent by Cadence Minerals Plc.

2 LCE = lithium carbonate (Li(2) CO(3) ) equivalent; determined by multiplying Li value in percent by 5.324 to get an equivalent Li(2) CO(3) value in per cent. Use of LCE is to provide data comparable with industry reports and assumes complete conversion of lithium in clays with no recovery or process losses.

 
 Notification of a Transaction pursuant to Article 19(1) of Regulation 
  (EU) No. 596/2014 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
---  ---------------------------------------------------------------------------------------- 
 a.   Name                       Janet Boyce 
                                ------------------------------------------------------------- 
 2    Reason for notification 
     -------------------------  ------------------------------------------------------------- 
 a.   Position/Status            PDMR 
     -------------------------  ------------------------------------------------------------- 
 b.   Initial notification/      Initial notification 
       Amendment 
     -------------------------  ------------------------------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     ---------------------------------------------------------------------------------------- 
 a.   Name                       Bacanora Lithium plc 
     ------------------------- 
 b.   LEI                        2138006JSN7VQUDINN66 
     -------------------------  ------------------------------------------------------------- 
 4    Details of the transaction(s): section to be repeated for 
       (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions have 
       been conducted 
---  ---------------------------------------------------------------------------------------- 
 a.   Description of             Options and Restricted Share Units ("RSUs") 
       the financial              over ordinary shares of 10p 
       instrument, type 
       of instrument 
 
       Identification             GB00BD20C246 
       Code 
     -------------------------  ------------------------------------------------------------- 
 b.   Nature of the              Grant of Options and RSUs 
       transaction 
     -------------------------  ------------------------------------------------------------- 
 
 c.   Price(s) and volume(s)         Price(s) per   Volume(s) 
                                      share 
     -------------------------      ------------- 
                                     39.25 pence    206,693 Options 
                                      39.25 pence    205,491 RSUs 
                                    -------------  ---------------- 
 
 d.   Aggregated information 
 
       - Aggregated Volume         412,184 
 
       - Price                     39.25 pence 
     -------------------------  ------------------------------------------------------------- 
 e.   Date of the transaction    7 September 2018 
     -------------------------  ------------------------------------------------------------- 
 f.   Place of the transaction   London AIM 
     -------------------------  ------------------------------------------------------------- 
 
 
 
 Notification of a Transaction pursuant to Article 19(1) of Regulation 
  (EU) No. 596/2014 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
----  ------------------------------------------------------------------------------------ 
 a.    Name                        Eric Carter 
                                  -------------------------------------------------------- 
 2     Reason for notification 
      --------------------------  -------------------------------------------------------- 
 a.    Position/Status             PDMR 
      --------------------------  -------------------------------------------------------- 
 b.    Initial notification/       Initial notification 
        Amendment 
      --------------------------  -------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------ 
 a.    Name                        Bacanora Lithium plc 
      -------------------------- 
 b.    LEI                         2138006JSN7VQUDINN66 
      --------------------------  -------------------------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions have 
        been conducted 
----  ------------------------------------------------------------------------------------ 
 a.    Description of              Options over ordinary shares of 10p 
        the financial 
        instrument, type 
        of instrument 
                                    GB00BD20C246 
        Identification 
        Code 
      --------------------------  -------------------------------------------------------- 
 b.    Nature of the               Grant of Options 
        transaction 
      --------------------------  -------------------------------------------------------- 
 
 c.    Price(s) and volume(s)           Price(s) per    Volume(s) 
                                         share 
      --------------------------       -------------- 
    39.25 pence                                         226,036 
   --------------------------------------------------  ----------- 
 
 d.    Aggregated information 
 
        - Aggregated Volume          226,036 
 
        - Price                      39.25 pence 
      --------------------------  -------------------------------------------------------- 
 e.    Date of the transaction     7 September 2018 
      --------------------------  -------------------------------------------------------- 
 f.    Place of the transaction    London AIM 
      --------------------------  -------------------------------------------------------- 
 
 

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September 07, 2018 09:03 ET (13:03 GMT)