Galantas Gold Corporation has awarded 1,742,500 incentive stock options on the company’s common shares to directors, employees and consultants.
GRANT
The award is in accordance with the terms of the incentive stock option plan.
Galantas said that the exercise price for the options, which expire on 3 May 2027, is C$0.60 per share.
The board of directors approved the grant of the options on 27 April 2022.
The options will vest as to one third immediately and one third on each of May 3, 2023 and May 3, 2024, and are valid for a five-year period from the date of grant.
| Name of Optionee | Position | Number of Options |
| James Clancy | Director | 62,500 |
| Roisin Magee | Director & Chair | 92,500 |
| Mario Stifano | Director & Officer | 500,000 |
| Brent Omland | Director & Strategic Advisor | 62,500 |
| David Cather | Director | 62,500 |
| Brendan Morris | Officer | 125,000 |
| Alan Buckley | Officer | 125,000 |
| George Duguay | Officer | 37,500 |
| Employees and Consultants | Various | 675,000 |
Total Options Granted | 1,742,500 |
INCENTIVE STOCK OPTION PLAN
Galantas’ stock option plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options.
Prior to the award, the total number of incentive stock options outstanding was 4,885,000.
The total number of incentive stock options now outstanding for the company is 6,627,500, representing 7.98% of the company’s issued and outstanding shares, which total 83,016,801.