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Published on April 30, 2024 • 3 minutes reading time
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TORONTO, April 30, 2024 (GLOBE NEWSWIRE) — Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) announces that it has granted 3,175,000 incentive stock options on the The Company’s common stock has granted shares to directors, employees and consultants pursuant to the terms of the Company’s incentive stock option plan. The exercise price for the options expiring on April 29, 2029 is C$0.23 per share and the grant of these options was approved by the Board of Directors on April 23, 2024. One-third of the options vest immediately and one-third vest on the third of April 29, 2025 and April 29, 2026 and are valid for a period of 5 years from the date of grant.
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The number of options issued to directors, employees and consultants is set out below:
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| Name of the option recipient | position | Number of options |
| James Clancy | director | 125,000 |
| Roisin Magee | Director and Chairman | 200,000 |
| Mario Stifano | Director and officer | 1,000,000 |
| Brent Omland | Director and strategic advisor | 125,000 |
| David Cather | director | 125,000 |
| Brendan Morris | officer | 250,000 |
| Alan Buckley | officer | 250,000 |
| George Duguay | officer | 75,000 |
| Employees and consultants | Different | 1,025,000 |
| Total number of options granted | 3,175,000 |
The Company’s stock option plan allows for the issuance of up to 10% of the issued and outstanding share capital in the form of incentive stock options. The total number of incentive stock options outstanding prior to this grant was 5,777,500, resulting in the total number of incentive stock options currently outstanding for the Company being 8,952,500, representing 7.8% of the Company’s issued and outstanding shares, which total 114,535,293.
The above stock option awards are subject to approval by the TSX Venture Exchange.
Neither the 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.
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This communication contains inside information within the meaning of Article 7 of Regulation (EU) No 596/2014.
About Galantas Gold Corporation
Galantas Gold Corporation is a Canadian public company trading on the TSX Venture Exchange and the AIM market of the London Stock Exchange, both under the symbol GAL. It also trades on the OTCQX exchange under the symbol GALKF. The Company’s strategy is to create value for shareholders through the operation and expansion of gold production and resources at the Omagh Project in Northern Ireland and through exploration of the Gairloch Project, which hosts the gold-bearing Kerry Road VMS deposit in Scotland create.
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Galantas Gold Corporation
Mario Stifano: Chairman of the Board
Email: [email protected]
Website: www.galantas.com
Telephone: +44(0)28 8224 1100
Grant Thornton UK LLP (AIM Nomad)
Philip Secrett, Harrison Clarke, Enzo Aliaj, Elliot Peters
Telephone: +44(0)20 7383 5100
SP Angel Corporate Finance LLP (AIM Broker)
David Hignell, Charlie Bouverat (Corporate Finance)
Grant Barker (sales and brokerage)
Telephone: +44(0)20 3470 0470
| (UK) TRADE NOTIFICATION FORM For use by managers and people close to them |
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| 1. | Information about the person who performs management tasks/the person who is in a close relationship | |
| A) | Surname: | 1.James Clancy 2. Roisin Magee 3. Mario Stifano 4. Brent Omland 5. David Cather 6. Brendan Morris 7. Alan Buckley 8. George Duguay |
| 2. | Reason for notification | |
| A) | Position/Status: | 1st Director 2. Director and Chairman 3. Director and officer 4. Director and strategic advisor 5. Director 6th officer 7th officer 8th officer |
| B) | Initial notification/change: | First notification |
| 3. | Information about the issuer, emissions certificate market participant, auction platform, auctioneer or auction monitor | |
| A) | Surname: | Galantas Gold Corporation |
| B) | LEI: | LEI: 213800JKVPLLKO4KVB93 |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) any type of transaction; (iii) any date; and (iv) any location where transactions were conducted | |
| A) | Description of the financial instrument type
Identification Number |
Common shares with no par value
ISIN: CA36315W2022 |
| B) | Type of transaction | Grant of Stock Options |
| C) | Price(s) and quantity | Price for all awards: C$0.23 per share.
Volumes
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| D) | Aggregated Information | Stock options: 3,175,000
Strike price: CAD 0.23 |
| e) | Date of transaction | April 29, 2024 |
| F) | Place of transaction | Outside a trading venue |
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