Noram Announces Change to Board and Incentive Grant

Noram Lithium Corp. has released information about recent alterations within its Board of Directors and updates on incentive grants. Adam Falkoff has stepped down from his position on the Board but will continue his relationship with the company as an advisor. Noram expresses gratitude for Falkoff's contributions and is looking forward to his continued advisory role.

In addition to the board change, Noram has granted 6,000,000 deferred share units (DSUs) to specific directors and officers as per the new omnibus incentive plan, approved in the recent annual general and special meeting on March 18, 2024. These DSUs, vesting a year from their grant date barring exceptions, entitle holders to a common share upon ceasing director roles at Noram.

The company has furthered its organizational restructuring by canceling 7,430,000 outstanding incentive stock options with exercise prices between $0.64 and $0.80. This strategic move is aimed at aligning Noram’s incentive structures more closely with its long-term goals and shareholder interests.