Surge Copper Announces Annual Grant of Equity Incentive Awards

Jan 25, 2022

Vancouver, British Columbia, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Surge Copper Corp. (TSXV: SURG) (OTCQX: SRGXF) (Frankfurt: G6D2) (“Surge” or the “Company”) announces that it has awarded a total of 5,611,843 restricted share units to various employees, executives, directors, and consultants of the Company on the basis of the 5-day volume-weighted average price on the TSX Venture Exchange and pursuant to a new Share Compensation Plan to be approved by shareholders at an upcoming shareholders’ meeting. A portion of the restricted share units vest based on the underlying share price performance over a three-year measurement period from the award date. A further portion of the restricted share units will vest annually over a three-year period from the award date. A further portion of the restricted share units was granted to Non-Executive Directors and will vest upon their departure from the Company. The restricted share units may settle in cash unless otherwise approved by shareholders. The Company’s Share Compensation Plan remains subject to TSX Venture Exchange approval and shareholder approval.

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