Kuya Silver Corporation (OTCMKTS:KUYAF) Stock On Radar After Issuance of Equity Awards and Debt Settlement

Yesterday, Kuya Silver Corporation (OTCMKTS:KUYAF) was in the news after it made an announcement with regards to the issuance of equity and debt settlement.

Trading Data

On Wednesday, KUYAF stock lost 5% to $0.2546 with 81.46K shares, compared to volume of 74.63K shares. The stock moved within a range of $0.2522 – 0.2689 after opening trade at $0.2689.

Kuya Silver Announces Issuance of Equity Awards and Debt Settlement

The company announced that in keeping with its 10% rolling equity incentive initiative it had approved the granting of as many as 650,000 restricted share units as well as 550,000 stock options for picking up common shares in Kuya Silver Corporation, to some of the employees and officers of the company. The options that were awarded by the company could be exercised up until January 25, 2028 at the exercise price of $0.35 each. In addition to that, the options are also going to be governed by vesting provisions.

On the other hand, the restricted share units will continue to vest and would be turned into common shares in Kuya Silver Corporation for no extra cost. The conversion would take place in tranches. The common shares that have been issued as part of an equity grant are also going to be subjected to a hold period which would expire on May 26, 2023. The hold period can however be relaxed if there is written approval for the same from the Canadian Securities Exchange.