Galantas Reports Award of Incentive Stock Options
TORONTO, Feb. 14, 2019 -- Galantas Gold Corporation (the ‘Company’) (TSXV:GAL) (AIM:GAL), reports that it has awarded 3,200,000 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 February 13, 2024, is $0.09 Canadian per share and the grant of these options was approved by the Board on February 13, 2019. The options will vest as to one third on February 13, 2019 and one third on each of the following two anniversaries. The majority (65.6%) 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 engaged in underground development.
Number of options issued to directors and executives are noted below:
Number of Common
| Shares | Exercise | Total | ||||||
|---|---|---|---|---|---|---|---|---|
| Owned, | Number of | price | Expiry date | options | ||||
| Director or | Beneficially % of Class existing | of existing | of existing | New | held | |||
| Executive | Present | Held or | Held or | share | share | share | options following | |
| Officer | office | Controlled Controlled options | options | options | granted | grant | ||
| Ronald | Director | 112,000 | 0.04% | 100,000 | $0.105 | 100,000 | 300,000 |
June 1st, Alexander 100,000 $0.135 2020 March 25, 2022
Lionel J. Non- 3,393,088 1.13% 200,000 $0.105 200,000 600,000 June 1st, Gunter Executive 200,000 $0.135 2020 Chairman March 25, and Director 2022
Roland Phelps President 49,338,167 16.46% 500,000 $0.105 June 1st, 200,000 1,200,000 and Chief 500,000 $0.135 2020 Executive March 25, Officer and 2022 Director
James B. Director 36,846 0.01% 100,000 $0.105 June 1st, 100,000 300,000 Clancy 100,000 $0.135 2020 March 25, 2022
James I. Golla Director 20,000 0.01% 100,000 $0.105 100,000 300,000 June 1st, 100,000 $0.135 2020 March 25, 2022
| Róisín Magee | Director | 500,000 | 0.17% | 0 | - | - 200,000 | 200,000 |
| Leo | Chief | 320,500 | 0.19% | 200,000 | $0.105 June 1st, | 200,000 | 400,000 |
| O'Shaughnessy Financial | 200,000 | $0.135 | 200,000 |
2020 Officer March 25, 2022
The total number of incentive stock options outstanding prior to this award was 8,850,000 which results in the total number of incentive stock options now outstanding for the Company being 12,050,000.
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
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