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Atico Mining Announces Approval of Amended and Restated Stock Option Plan by Shareholders
VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) announces following
About this update from Atico Mining Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the “Company” or “Atico”) (TSX.V: ATY | OTC: ATCMF) announces following the Company’s annual general meeting of shareholders, held on June 14, 2022, that shareholders of the Company approved the adoption of the Company’s amended and restated stock option plan (the “Amended and Restated Option Plan”). The Company’s stock option plan was originally adopted by the board of directors on June 2, 2011, and previously amended on May 27, 2015. The total number of common shares of the Company (the “Common Shares”) reserved and available for grant and issuance under the Amended and Restated Option Plan shall be a rolling number equal to 10% of the total issued and outstanding Common Shares from time to time. As further discussed in the Company’s management information circular dated April 28, 2022 (the “Circular”), the principal amendments to the Amended and Restated Option Plan included: (i) amending the vesting provisions to provide parameters for the vesting of options granted to any Investor Relations Service Provider (as defined in the Amened and Restated Option Plan) to ensure compliance with Policy 4.4 of the TSX Venture Exchange, (ii) amending the expiry provisions to provide that should the expiry date for an option fall within a Blackout Period (as defined in the Amended and Restated Option Plan), such expiry shall, subject to the approval of the TSX Venture Exchange, be automatically extended to that day which is the tenth business day after the end of the Blackout Period, (iii) amending the option term provisions to provide that the Option Price (as defined in the Amended and Restated Option Plan) shall not be less than the last closing price of the Common Shares on the TSX Venture Exchange before the date of grant less any applicable discount, (iv) adding the requirement that the TSX Venture Exchange approve adjustments to options granted and (v) amending the exercise provisions to permit “net exercise” by holders of options, except for those holders who are Investor Relations Service Providers. The full text of the Amended and Restated Option Plan is appended to the Circular and is available under the Company’s profile on SEDAR. About Atico Mining Corporation Atico is a growth-oriented Company, focused on exploring, developing and minin...