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 w as 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:
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.
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 0.07% 100,000 $0.105 June 1st, 2020 100,000 200,000
Lionel J.
Gunter
Non-
Executive
Chairman
and
Director
3,393,088 1.99% 200,000 $0.105 June 1st, 2020 200,000 400,000
Roland Phelps President
and Chief
Executive
Officer
and
Director
33,356,750 19.52% 500,000 $0.105 June 1st, 2020 500,000 1,000,000
James B.
Clancy
Director 36,846 0.02% 100,000 $0.105 June 1st, 2020 100,000 200,000
James I. Golla Director 20,000 0.01% 100,000 $0.105 June 1st, 2020 100,000 200,000
Leo
O'Shaughnessy
Chief
Financial
Officer
320,500 0.19% 200,000 $0.105 June 1st, 2020 200,000 400,000
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