August 6, 2021 – Vancouver, B.C. – Medaro Mining Corp. (CSE:MEDA) (“Medaro” or the “Company”) is pleased to announce the appointment of Faizaan Lalani as the Company’s President, taking over the role from Hugh Maddin, and the appointment of Alex McAulay as the Company’s Chief Financial Officer, taking over the role from Mr. Lalani. Mr. Maddin will remain as the Company’s Chief Executive Officer and a director of the Company.
The Company is also pleased to announce that it has granted an aggregate of 290,000 restricted share units (the “RSUs”) and issued an aggregate of 450,000 stock options (the “Options”), each exercisable at $1.29 per share until August 5, 2023, to directors, officers and advisors of the Company in accordance with the Company’s equity incentive plan. The RSUs and Options will vest four months from issuance.
On Behalf of the Board of Directors
Chief Executive Officer & Director
About the Company
The Company is a lithium exploration company based in Vancouver, BC. and holds options over the Superb Lake lithium property located in Thunder Bay, Ontario and the CYR South lithium property located in James Bay, Quebec. The Company is a party to a joint venture agreement that engages the Company in the development and commercialization of a new process to extract lithium from spodumene concentrate.
For more information, investors should review the Company’s filings that are available at www.sedar.com.
Forward Looking Statements
This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the vesting of the RSUs and Options therefrom are “forward-looking information”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.