Geomega Announces Grant of Incentive Equity Compensation and Extension of Warrants - Seite 2

Restricted Share Units: an aggregate of 1,302,000 RSUs were issued to officers of the Corporation. The RSUs vest over a 2-year period in increments of 25% every 6 months and may be settled after 3 years. The number of RSU granted to the officers of the Corporation was calculated based on the compensation to be paid, as recommended by the Committee, and using a 10-day VWAP of the shares on the TSXV to calculate the value, the whole as provided in the Omnibus Plan.

Warrants Extension

In addition, Geomega has filed to extend the expiry date of 704,028 common share purchase warrants for 2 years as per the table below, subject to the final approval of the TSX Venture Exchange:

Number of Warrants	Current Expiry Date	New Expiry Date	Exercise price
704,028	February 8, 2024	February 8, 2026	$0.40

These warrants were issued pursuant to the private placement, which closed on February 8, 2022, of 1,408,055 units (see press release of February 9, 2022). There are no other proposed changes to the terms of the warrants.

About Geomega (www.geomega.ca)
Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies.

As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process.

Geomega’s process is based around its proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably and safely.