TORONTO, May 04, 2022 (GLOBE NEWSWIRE) — Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) reports that it has awarded 1,742,500 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 3, 2027, is C$0.60 per share and the grant of these options was approved by the Board of Directors on April 27, 2022. The options will vest as to one third immediately and one third on each of May 3, 2023 and May 3, 2024, 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||92,500|
|Mario Stifano||Director & Officer||500,000|
|Brent Omland||Director & Strategic Advisor||62,500|
|Employees and Consultants||Various||675,000|
|Total Options Granted||1,742,500|
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 4,885,000 which results in the total number of incentive stock options now outstanding for the Company being 6,627,500, representing 7.98% of the Company’s issued and outstanding shares, which total 83,016,801.
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.
About Galantas Gold Corporation
Galantas Gold Corporation is a Canadian public company that trades on the TSX-Venture Exchange and the London Stock Exchange AIM market, both under the symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The Company’s strategy is to create shareholder value by operating and expanding Northern Ireland’s first gold mine.
Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Telephone: +44 (0)28 8224 1100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, George Grainger, Samuel Littler
Telephone: +44(0)20 7383 5100
Panmure Gordon & Co (AIM Broker & Corporate Adviser)
Hugh Rich, John Prior
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. James Clancy
2. Roisin Magee
3. Mario Stifano
4. Brent Omland
5. David Cather
6. Brendan Morris
7. Alan Buckley
8. George Duguay
|2.||Reason for the notification|
2. Director & Chair
3. Director & Officer
4. Director & Strategic Advisor
|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|
|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
|Common Shares of nil par value
|b)||Nature of the transaction||Grant of Stock Options|
|c)||Price(s) and volume||Price for all grants C$0.60 per share.
|d)||Aggregated information||Stock Options: 1,742,500
Exercise price: C$0.60
|e)||Date of the transaction||May 3, 2022|
|f)||Place of the transaction||Outside a trading venue|