Galantas Reports Award of Incentive Stock Options
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:
Director or
Executive
Officer
Present
office
Number of
Common
Shares
Owned,
Beneficially
Held or
Controlled
% of Class
Held or
Controlled
Number of
existing
share
options
Exercise
price
of existing
share
options
Expiry date
of existing
share
options
New
options
granted
Total
options
held
following
grant
Ronald
Alexander
Director 112,000 0.04% 100,000
100,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
100,000 300,000
Lionel J.
Gunter
Non-
Executive
Chairman
and Director
3,393,088 1.13% 200,000
200,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
200,000 600,000
Roland Phelps President
and Chief
Executive
Officer and
Director
49,338,167 16.46% 500,000
500,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
200,000 1,200,000
James B.
Clancy
Director 36,846 0.01% 100,000
100,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
100,000 300,000
James I. Golla Director 20,000 0.01% 100,000
100,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
100,000 300,000
Róisín Magee Director 500,000 0.17% 0 - - 200,000 200,000
Leo
O'Shaughnessy
Chief
Financial
Officer
320,500 0.19% 200,000
200,000
$0.105
$0.135
June 1st,
2020
March 25,
2022
200,000
200,000
400,000
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