Galantas Reports Award of Incentive Stock Options
TORONTO, June 28, 2019 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (the ‘Company’) (TSXV & AIM : Symbol GAL), reports that it has awarded 2,500,000 incentive stock options on the Company’s common shares to directors and key employees, in accordance with the terms of the Company’s incentive Stock Option Plan (2004). The exercise price for the options, which expire on June 27, 2024, is $0.09 Canadian per share and the grant of these options was approved by the Board on June 27, 2019. The options will vest as to one third on June 27, 2019 and one third on each of the following two anniversaries. The majority (80%) of the share options in this issuance have been awarded to non-directors, mainly newly appointed employees directly involved in operations at the wholly owned Omagh, Northern Ireland, gold mine, now in advanced underground development.
Number of options issued to directors and executives are noted below:
| Exercise | Total | |||||||
| Number of Common | Number of | price of | Expiry date | options | ||||
| Director or | Shares Owned, | % of Class | existing | existing | of existing | New | held | |
| Executive | Present | Beneficially Held or | Held or | share | share | share | options | following |
| Officer | office | Controlled | Controlled | options | options | options | granted | grant |
| Róisín Magee | Director | 500,000 | 0.17% | 200,000 | $0.09 | Feb 13,2024 | 300,000 | 500,000 |
| David Cather | Director | 0 | 0 | 0 | - | - | 200,000 | 200,000 |
The total number of incentive stock options outstanding prior to this award was 11,916,667 which results in the total number of incentive stock options now outstanding for the Company being 14,416,667.
As at February 14, 2019 Galantas Gold Corporation Issued and Outstanding Shares total 299,686,805.
This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.
The Incentive Stock Option award is 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
Roland Phelps C.Eng – President & CEO
Email: info@galantas.com Telephone: (UK) +44 (0) 2882 241100
Website: www.galantas.com
Grant Thornton UK LLP (Nomad)
Philip Secrett, Richard Tonthat: Telephone: +44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Nick Lovering, Grant Barker: Telephone: +44(0)20 7659 1234