Galantas Grants Stock Options
TORONTO, May 19, 2021 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (“TSX-V: GAL; AIM: GAL) (“Galantas” or the “Company”) reports that it has awarded 3,915,000 incentive stock options on the Company’s common shares to directors, employees and consultants, in accordance with the terms of the Company’s incentive Stock Option Plan. The exercise price for the options, which expire on May 19, 2026, is C$0.86 per share and the grant of these options was approved by the Board of Directors on May 19, 2021. The options will vest as to one third immediately and one third on each of May 19, 2022 and May 19, 2023, and are valid for a 5-year period from the date of grant.
The number of options issued to directors, employees and consultants are noted below:
| Name of Optionee | Position | Number of Options |
| Roisin Magee | Director & Chair | 275,000 |
| Mario Stifano | Director Designate & Officer | 1,500,000 |
| James Golla | Director | 125,000 |
| James Clancy | Director | 125,000 |
| Brent Omland | Director Designate & Strategic Advisor | 375,000 |
| David Cather | Director | 125,000 |
| George Duguay | Officer | 75,000 |
| Alan Buckley | Officer | 250,000 |
| Employees and Consultants | Various | 1,065,000 |
| Total Options Granted | 3,915,000 |
The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. The total number of incentive stock options outstanding prior to this award was 570,000 which results in the total number of incentive stock options now outstanding for the Company being 4,485,000, representing 6.12% of the Company’s issued and outstanding shares, which total 73,270,468.
This disclosure has been authorized by Mario Stifano, Director and CEO of Galantas Gold Corporation.
The aforementioned stock option grants are subject to TSX Venture Exchange approval.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries
| Galantas Gold Corporation | Mario Stifano: Chief Executive Officer | |
| Email: info@galantas.com | Website: www.galantas.com | Telephone: +44 (0) 2882 241100 |
| Grant Thornton UK LLP (AIM Nomad) | ||
| Philip Secrett, Harrison Clarke, George Grainger | ||
| Telephone: +44(0)20 7383 5100 | ||
| Panmure Gordon & Co (AIM Broker & Corporate Adviser) | ||
| Nick Lovering, Hugh Rich | ||
| Telephone: +44(0)20 7886 2500 | ||
(UK) DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated | |
| a) | Name: | 1. Roisin Magee 2. Mario Stifano 3. James Golla 4. James Clancy 5. Brent Omland 6. David Cather 7. George Duguay 8. Alan Buckley |
| 2. | Reason for the notification | |
| a) | Position/status: | 1. Director & Chair 2. Director Designate & Officer 3. Director 4. Director 5. Director Designate & Strategic Advisor 6. Director 7. Officer 8. Officer |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Galantas Gold Corporation |
| b) | LEI: | LEI: 213800JKVPLLKO4KVB93 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument type of instrument Identification Code | Common Shares of nil par value ISIN: CA36315W2022 |
| b) | Nature of the transaction | Grant of Stock Options |
| c) | Price(s) and volume | Price for all grants C$0.86 per share. Volumes 1. 275,000 2. 1,500,000 3. 125,000 4. 125,000 5. 375,000 6. 125,000 7. 75,000 8. 250,000 |
| d) | Aggregated information | Stock Options: 3,915,000 Exercise price: C$0.86 |
| e) | Date of the transaction | May 19, 2021 |
| f) | Place of the transaction | Outside a trading venue |