Galantas Gold Corporation has awarded 3,175,000 incentive stock options on the company’s common shares to its directors, employees and consultants.
The options, which have an exercise price of C$0.23 and expire on 29 April 2029, were granted in accordance with the Canadian company’s incentive stock option plan and approved by the board on 23 April.
One third of the options will vest immediately and one third on each of 29 April 2025 and 29 April 2026.
Galantas awarded director James Clancy 125,000 options; director and chair Róisín Magee, 200,000; chief executive and director Mario Stifano, 1 million; director and strategic advisor Brent Omland,125,000; and director David Cather, 125,000.
Officers Brendan Morris and Alan Buckley were each granted 250,000 options, George Duguay 75,000; and employees and consultants in various positions, a total 1,025,000.
The company said its stock option plan allowed up to 10% of issued and outstanding share capital to be issued in the form of incentive stock options.
The total number of outstanding incentive stock options prior to this award was 5,777,500.
The current outstanding incentive stock options total 8,952,500, representing 7.8% of the company’s issued and outstanding shares, which total 114,535,293.