Toronto, Ontario--(Newsfile Corp. - November 26, 2024) - Protium Clean Energy Corp. (CSE: GRUV) (FSE: G071), a leading resource company focused on clean energy and sustainable resource development, is pleased to announce that it has entered into a Consulting Agreement with Desi Sketchley, an expert in Indigenous relations and mineral tenure management. This agreement underscores the Company's commitment to fostering meaningful relationships with Indigenous communities and securing strategic opportunities for growth.
Under the terms of the agreement, Mr. Sketchley will provide consulting services to support the Company's Indigenous relations strategies. His scope of work includes identifying prospective properties in British Columbia for staking, developing and implementing Indigenous engagement strategies, facilitating communication with Indigenous communities, and advising on regulatory and compliance matters.
In recognition of Mr. Sketchley's expertise and contributions, the Company has agreed to pay $10,000 in cash and issue 1,200,000 Restricted Share Units (RSUs), subject to the approval of the Canadian Securities Exchange (CSE). The RSUs will vest in monthly increments of 200,000 over the term of the agreement, with a hold period of four months and one day from the date of issuance.
Additionally, the agreement grants Protium Clean Energy Corp. a right of first refusal over four mineral tenures held by Mr. Sketchley covering approximately 569.56 hectares in British Columbia. The acquisition of this right of first refusal aligns with the Company's previously announced strategy of developing areas of interest in Ontario, British Columbia and Alberta (see press release dated November 19, 2024).
"We are excited to welcome Mr. Sketchley to our team and look forward to benefiting from his deep expertise in Indigenous relations and mineral tenure management," said Marc Branson, CEO of Protium Clean Energy Corp. "This agreement represents a significant step forward in our mission to build strong, collaborative relationships with Indigenous communities while advancing our resource development objectives."
The agreement is effective as of November 13, 2024, and will initially run for a six-month term, renewable at the option of the Company.
In addition, the Company announces that announce that its Board of Directors has approved the adoption of an Omnibus Equity Incentive Plan (the "Plan"). This Plan is designed to enhance the Company's ability to attract, retain, and motivate qualified directors, officers, employees, and consultants while aligning their interests with those of shareholders. The Omnibus Equity Incentive Plan provides a flexible and comprehensive framework for granting equity-based awards, including stock options, restricted share units (RSUs), performance share units (PSUs), and deferred share units (DSUs). The Plan aims to reward eligible participants for their contributions to the Company's success and to encourage long-term investment in Protium's shares.
The Plan reserves up to 10% of the Company's total issued and outstanding shares for awards under the Plan, adhering to the "evergreen" structure. Shares subject to expired or terminated awards will become available for future grants.
Awards under the Plan are subject to a range of vesting schedules and performance criteria as determined by the Company's Board of Directors or its delegate.
Specific limits ensure compliance with regulatory standards, including restrictions on grants to insiders, consultants, and those engaged in investor relations activities.
In addition to the RSUs to be granted to Mr. Sketchley, the Company announces, subject to CSE approval, the grant of 2,500,000 additional RSUs to a strategic consultant to the Company. These additional RSUs will vest four months and one date from the date of grant.
About Protium Clean Energy Corp.
Protium Clean Energy Corp.is a junior exploration and development company focused on identifying, acquiring, and exploring prospective minerals in Canada's extensive natural resources portfolio. We focus on exploring and developing our 100% owned Nakina Lithium and Firstbrook Hydrogen properties in Ontario, located in Northern Canada, and identifying and pursuing further opportunities by region using various satellite surveys. This allows Protium Clean Energy Corp. to evaluate large tracts of land quickly and cost-effectively to delineate targets for natural gasses and critical minerals required for the modern world.
On Behalf of the Board of Directors,
"Marc Branson"
CEO and Director
Email: investors@weekapaug.ca
Website: weekapaug.ca
Phone: 604-816-2555
Forward-Looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law including statements relating to fostering relationships with indigenous communities and identifying properties. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE, failure to realize the benefits of the consulting agreement, difficulties making inroads with certain communities, defects in title and, failures to maintain titles in good standing. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which are available at www.sedarplus.ca.
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231408
SOURCE: Protium Clean Energy Corp.
