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Stuhini Exploration Ltd. (TSXV: STU) (OTCQB: STXPF) (WKN: A2PLBV) ("Stuhini" or the "Company") is pleased to announce it has engaged Independent Trading Group, Inc. ("ITG") to act as market-maker for the trading of the common shares of the Company (the "Common Shares") on the TSX Venture Exchange (the "TSX-V"), with the objective of maintaining a reasonable market and improving the liquidity of the Common Shares.
ITG is providing its services to the Company pursuant to a market making services agreement (the "Market Making Agreement") entered into between the Company and ITG. The Market Making Agreement is for an initial term of one month and shall continue on a month-to-month basis thereafter, subject to termination pursuant to the terms thereof, including by either party upon 30 days' prior written notice to the other party. In consideration for the market making services provided to the Company by ITG, the Company has agreed to pay ITG a fee of $6,000 per month (plus applicable taxes), payable monthly in advance. There are no performance factors contained in the Market Making Agreement and ITG will not receive any Common Shares or other securities of the Company as compensation.
The Company and ITG are unrelated and unaffiliated entities and the Company has been advised that neither ITG nor its principals have any interest, directly or indirectly, in any securities of the Company, or any right or intent to acquire such interest, other than pursuant to the marketing making services to be provided by ITG pursuant to the terms of the Market Making Agreement. The Market Making Agreement and the engagement of ITG pursuant thereto remains subject to the approval of the TSX-V.
Stock Option Grant
The Company also announces that its Board of Directors has authorized and approved the grant of an aggregate of 1,775,000 stock options of the Company ("Options") pursuant to the Company's stock option plan to certain directors, officers, employees, and consultants. The Options are exercisable for an aggregate of 1,775,000 Common Shares at an exercise price of $0.155 per Common Share for a 36-month term, expiring on January 14, 2029. The Options vest in four 25% equal instalments over a period of twenty-four (24) months from the date of grant, with the first instalment vesting on July 14, 2026, and three additional instalments vesting six, twelve and eighteen months thereafter.
About Independent Trading Group
Independent Trading Group (ITG), Inc. is a Toronto-based CIRO dealer-member that specializes in market making, liquidity provision, agency execution, ultra-low latency connectivity, and bespoke algorithmic trading solutions. Established in 1992, with a focus on market structure, execution, and trading, ITG has leveraged its own proprietary technology to deliver high-quality liquidity provision and execution services to a broad array of public issuers and institutional investors.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada. The Company's portfolio of exploration properties includes the flagship Ruby Creek Property, 16 km east of Atlin, BC; the Big Ledge Property, 57 km south of Revelstoke, BC.
For further information on Stuhini, visit our website at www.stuhini.com or contact:
Meredith Eades
President & CEO
meades@stuhini.com
604.360.4668
Twitter: @STUexploration
LinkedIn: Stuhini Exploration
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. All statements in this release that are not historical facts are forward-looking statements, including, without limitation, the anticipated effects of the market making services to be provided by ITG on the liquidity and trading of the Company's Common Shares.
Forward-looking statements are based on a number of assumptions that, while considered reasonable by the Company at the time of preparation, are inherently subject to significant uncertainties. These assumptions include, but are not limited to: that regulatory approvals, including those of the TSX-V, will be obtained in a timely manner or at all; that ITG will perform its obligations under the Market Making Agreement as anticipated; that market conditions will support improved liquidity of the Common Shares; economic conditions; mineral prices; and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to: the risk that regulatory approvals may not be obtained; that the market-making services to be provided by ITG may not achieve the anticipated impact on liquidity or trading activity; changes in market conditions; fluctuations in share price; regulatory or policy changes; and other risks inherent in the operation of a publicly listed exploration-stage company.
Although the Company believes the expectations reflected in such forward-looking statements are reasonable, there can be no assurance they will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280419
