Gossan Announces Amendment to Stock Option Plan
Gossan Announces Amendment to Stock
Option Plan
Winnipeg, Manitoba--(Newsfile Corp. - February 18, 2021) -
Gossan Resources Limited
(TSXV:
GSS) (FSE: GSR) (the "
Company
") announces that it intends to implement certain amendments to its
incentive stock option plan (the "
Plan
") in accordance with Policy 4.4 -
Incentive Stock Options
of the
TSX Venture Exchange ("
TSXV
") to increase the number of shares authorized for issuance under the
Plan.
The Plan is a fixed stock option plan that, together with all of the Company's other previously established
stock option plans or grants, could not result at any time in the number of common shares reserved for
issuance for stock options exceeding 10% of the issued shares as at the date of implementation of the
stock option plan. The Plan has an aggregate maximum of 4,000,000 common shares reserved for
issuance, representing 9.94% of the Company's issued and outstanding common shares. Currently, the
Company has 1,912,500 stock options outstanding, representing 4.75% of the Company's issued and
outstanding common shares.
Pursuant to Policy 4.4 of the TSXV, the amendment to the Plan does not require shareholder approval at
the time the amendment is to be implemented. The amendment to the Plan as described herein remains
subject to the final acceptance of the TSXV.
Gossan Resources Limited continues to seek new financeable resource projects in Newfoundland,
Manitoba, Ontario, and throughout North America. The Company is launching a new gold initiative with
the acquisition of the 9,050-hectare Gander Gold Property in Newfoundland which was recently
expanded to 10,950 hectares, and now, the 975-hectare Weir Pond and 1,050-hectare Island Pond
Properties.
The Company holds a broadly diversified portfolio of multi-element properties prospective
for hosting base metals and platinum group elements, as well as specialty "green-battery metals",
vanadium, titanium, tantalum, lithium and chromium. Gossan also has a deposit of high-purity,
magnesium-rich dolomite, and holds advance and production royalty interests in a silica sand deposit.
All of Gossan's mineral exploration and development properties are located in Manitoba, Northwestern
Ontario and now, Newfoundland. The Company's most recent focus is the exploration of its Sturgeon
Lake Property, located in the zinc-copper-silver rich polymetallic Sturgeon Lake Greenstone Belt of
Northwestern Ontario. The Company trades on the TSX Venture and the Frankfurt/Freiverkehr & Xetra
Exchanges and currently has 40,256,400 common shares outstanding.
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 news release.
For further information, please visit
www.gossan.ca
or contact:
Douglas Reeson, Chairman & CEO
Gossan Resources Limited
Tel: 416-533-9664
E-Mail:
Kathy Ringland, Office Manager
Tel: 204-943-1990
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/74904