Issue and Forfeiture of Performance Rights
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This section is Partnership Content suppliedThe content in this section is supplied by GlobeNewswire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by GlobeNewswire Article contentTORONTO, Dec. 15, 2025 (GLOBE NEWSWIRE) — Cygnus Metals Limited (“Cygnus” or the “Company”) advises that following management changes announced on 26 October 2025, it has today issued an aggregate of 3,000,000 additional performance rights (“Performance Rights”) to President/Chief Executive Officer, Mr Nicholas Kwong under the Company’s Omnibus Equity Incentive Plan (“Plan”). The Company also advises that, effective today, following Mr Ernest Mast’s transition from Managing Director to Non-Executive Director on 12 December 2025, and as part of that transition will forfeit an aggregate of 6,000,000 Performance Rights issued under the Plan.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentArticle contentShareholders approved the Plan and the issue of Performance Rights to directors at the Company’s annual general meeting held on May 14, 2025.
The Performance Rights to Mr Kwong were issued on the same terms and conditions as the director Performance Rights, as set out in the notice of annual general meeting released to ASX on April 14, 2025.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentThe Performance Rights vest on the successful completion of specific key performance objectives on or before July 11, 2028. Each vested Performance Right is exercisable to one fully paid ordinary share in the capital of the Company (net of applicable withholdings) and will expire on May 31, 2030 unless exercised on or before this date.Article contentThe objective of Cygnus’ Plan is to promote the long-term success of the Company and the creation of shareholder value by aligning the interests of eligible persons under the Plan with the interests of the Company.Article contentThis announcement has been authorised for release by the Executive Chair.Article contentDavid SouthamExecutive ChairT: +61 8 6118 1627E: info@cygnusmetals.comNick KwongPresident/Chief Executive Officer T: +1 416 892 5076E: info@cygnusmetals.comMedia:Paul Armstrong Read Corporate +61 8 9388 1474 Article contentArticle contentAbout Cygnus MetalsArticle contentCygnus Metals Limited (ASX: CY5, TSXV: CYG) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.Article contentArticle contentArticle contentArticle contentArticle contentArticle contentTrending Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Food prices rise at fastest pace in two years, though inflation rate holds steady Economy 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Garry Marr: How raiding your TFSA before the end of year could save you thousands Personal Finance The Federal Reserve’s rate cut was a clear signal to investors Investor Posthaste: Canada's provinces face 'deteriorating' outlook, says Fitch Ratings News Food prices rise at fastest pace in two years, though inflation rate holds steady Economy 'Why let one person in the States change your life?' For Canadian snowbirds, the stay or go dilemma gets complicated Real Estate