Diamond Fields Grants New Stock Options
Diamond Fields Grants New Stock Options
Vancouver, B.C. (December 7, 2022) – Diamond Fields Resources Inc. (TSX-V:
DFR) (or “the Company”) announces that it has granted new stock options (“the
New Options”) to eligible participants for the purchase of up to 900,000 common
shares at an exercise price of C$0.20 per share, effective as at December 6,
2022 (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 options granted on
September 22, 2022 and the subscription price which was used in the US$3.1m
equity financing announced on March 11, 2022. This pricing is intended to
ensure continued alignment of interests among shareholders, management and
directors.
The New Options were granted under DFR’s Fixed Stock Option plan (the “Plan”)
which enables the Company to issue up to 17,800,000 Stock Options, being less
than 10% of the Company’s issued and outstanding common shares.
A balance of 150,000 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 Africa. 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 prepared 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.
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 announcement 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; and
compliance with extensive government regulation. Should one or more of these
risks, uncertainties or other factors materialize, or should assumptions
underlying the forward-looking information or statement prove incorrect, actual
results may vary 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 the 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 expectations 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.