Diamond Fields Grants New Stock Options
Diamond Fields Grants New Stock Options
Vancouver, B.C. (September 22, 2022) – Diamond Fields Resources Inc. (TSX-V:
DFR) (or “the Company”) announces that it has increased the number of Stock Options
issuable by the Company under the Fixed Stock Option plan (the “Plan”) to 17,800,000
Stock Options, being less than 10% of the Company’s issued and outstanding common
shares as at the date of this release. The increase was approved at the Company’s
shareholders’ meeting on June 9, 2022 and is subject to approval by the TSX Venture
Exchange.
In accordance with the Plan, the Compan y has granted new stock options (“the New
Options”) to eligible participants for the purchase of up to 16,150,000 common shares
at an exercise price of C$0.20 per share, effective as at the date of this announcement
(the “Grant Date”). The New Options will expire on the fourth anniversary of the Grant
Date, with 100% of the New Options vesting on the first anniversary of the Grant Date.
The exercise price of the New Options is the same as the subscription price which was
used in the US$3.1m equity financing announ ced on March 11, 2022. This pricing is
intended to ensure continued alignment of interests among shareholders, management
and directors.
Following the grant of the New Options, a balance of 330,800 Stock Options remains
available for future grants under the Plan.
End
DIAMOND FIELDS RESOURCES INC.
John McGloin, CEO
Contact: [email protected]
Michael Oke/Andy Mills: +44 20 7321 0000
Aura Financial LLP: www.aura-financial.com
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine development company
focused on gold and other commodities in Af rica. Following the acquisition of Moydow
Holdings Limited, DFR holds interests in a portfolio of West African gold exploration
projects including the highly prospective Cascades Gold Project in Burkina Faso. The
Cascades Project has a Mineral Resource pr epared in accordance with NI 43-101
comprising 5.41 million tonnes of indicated resources at an average grade of 1.52 g/t
Au for a total 264,000 ounces of gold; and 6.93 million tonnes of inferred resources at
an average grade 1.67 g/t Au for a total of 371,000 ounces of gold.
In Madagascar, DFR has an advanced high grade hard rock zircon exploration prospect
located in the west of the country, approximately 220km east of the port of Maintirano
and close to a state road. DFR acquired Beravina from Pala Investments and Austral
Resources in 2016. In Namibia, the Compan y owns several offsho re diamond mining
licenses.
Website: www.diamondfields.com
The Company’s public documents may be accessed at www.sedar.com
Neither the 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.
Forward-Looking Statements:
This release contains certain “forward-looking information” within the meaning of
applicable Canadian securities legislation. All statements other than statements of
historical fact in this release that address activities, events or developments that DFR
expects or anticipates will or may occur in the future are forward-looking statements or
information. Often, but not always, forward-looking information can be identified by the
use of words such as “aim”, “aspire”, “strive”, “will”, “expect”, “intend”, “plan”, “believe”
or similar expressions as they relate to DFR. Forward- looking information is subject to
a variety of risks and uncertainties which could cause actual events or results to
materially differ from those reflected in the forward-looking information.
There are a number of important factors that could cause DFR’s actual results to differ
materially from those indicated or implied by forward-looking statements and
information. Such factors include, among others: the ability to obtain requisite
regulatory approvals; commodity prices; the gold exploration and mining industry in
general; the potential impact of the anno uncement on relationships; including with
regulatory bodies, employees; suppliers, customers and competitors; changes in
general economic, business and political conditions, including changes in the financial
markets; changes in applicable laws; an d compliance with extensive government
regulation. Should one or more of these risks, uncertainties or other factors materialize,
or should assumptions underlying the forwar d-looking information or statement prove
incorrect, actual results may va ry materially from those described herein as intended,
planned, anticipated, believed, estimated or expected.
DFR cautions that the foregoing list of material factors is not exhaustive. When relying
on DFR’s forward-looking statements and information to make decisions, shareholders
should carefully consider th e foregoing factors and other uncertainties and potential
events. DFR has assumed that the material factors referred to in the previous paragraph
will not cause such forward looking statements and information to differ materially from
actual results or events. However, the list of these factors is not exhaustive and is
subject to change and there can be no assurance that such assumptions will reflect the
actual outcome of such items or factors. The forward-looking information contained in
this release represents the ex pectations of DFR as of the date of this release and,
accordingly, is subject to change after such date. Readers should not place undue
importance on forward looking information and should not rely upon this information as
of any other date. While DFR may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.