Galantas Reports Award of Incentive Stock Options
GALANTAS GOLD CORPORATION TSXV & AIM : Symbol GAL
GALANTAS REPORTS AWARD OF INCENTIVE STOCK OPTIONS
March 27, 2017: Galantas Gold Corporation (the ‘Company’) reports that it has awarded 4,900,000 incentive stock options on the Company’s common shares to directors, officers, consultants 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 March 25 2022, is $0.135 Canadian per share and the grant of these options was approved by the Board on March 25 2017. The options will vest as to one third on March 25 2017 and one third on each of the following two anniversaries. The majority (76.5%) of the share options in this issuance have been awarded to non-directors, mainly employees (existing or newly appointed) directly involved in operations at the wholly owned Omagh gold mine, now in engaged in underground development.
Number of options issued to directors and executives are noted below:
Total Exercise Number of Common Number of Expiry date New options Director or % of Class price of Present Shares Owned, existing of existing options held Executive Held or existing office Beneficially Held or share share granted following Officer Controlled share Controlled options options grant options
Ronald Director 112,000 0.07% 100,000 $0.105 June 1st, 2020 100,000 200,000 Alexander Lionel J. Non- 3,393,088 1.99% 200,000 $0.105 June 1st, 2020 200,000 400,000 Gunter Executive Chairman and Director Roland Phelps President 33,356,750 19.52% 500,000 $0.105 June 1st, 2020 500,000 1,000,000 and Chief Executive Officer and Director James B. Director 36,846 0.02% 100,000 $0.105 June 1st, 2020 100,000 200,000 Clancy James I. Golla Director 20,000 0.01% 100,000 $0.105 June 1st, 2020 100,000 200,000
Leo Chief 320,500 0.19% 200,000 $0.105 June 1st, 2020 200,000 400,000 O'Shaughnessy Financial Officer
The total number of incentive stock options outstanding prior to this award was 3,700,000 with an exercise price of $0.105 Canadian per share resulting in the total number of incentive stock options now outstanding for the Company being 8,600,000.
As at March 3, 2017 Galantas Gold Corporation Issued and Outstanding Shares total 170,894,087.
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
L. Jack Gunter P.Eng – Chairman, Roland Phelps C.Eng – President & CEO Email: [email protected] 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