Business
Capital Structure and Granting of Share Options
Capital Structure and Granting of Share Options.
About this update from Cora Gold Ltd.
[{"type":"text","content":"\n \n \n Cora Gold Limited / EPIC: CORA.L / Market: AIM / Sector: Mining\n \n \n \n \n \n 13 March 2023\n \n \n \n \n \n \n Cora Gold Limited\n \n \n \n \n ('Cora' or 'the Company')\n \n \n \n \n Update on Capital Structure and Granting of Share Options\n \n \n \n \n \n \n Cora Gold Limited, the West African focused gold company, is pleased to provide an update on its capital structure and announce the granting of share options.\n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n ● The Company has now closed its fundraise for gross proceeds of US$19.803 million (announcement dated 10 March 2023)\n \n \n \n \n \n ● Share options granted to directors, management and consultants over 14,350,000 ordinary shares exercisable at 4 pence per ordinary share expiring on 13 March 2028\n \n \n \n \n \n \n Bert Monro, Chief Executive Officer of Cora, commented,\n \n \"I am very pleased with the strong support received for Cora's recent fundraise. Over the coming months we look forward to providing progress updates on our flagship Sanankoro Gold Project.\"\n \n \n \n \n \n \n Grant of Share Options\n \n \n \n \n \n \n Immediately following the closing of the fundraise on 08 March 2023, in accordance with the Company's Share Option Scheme dated 18 December 2017 the board of directors granted and approved share options ('Options') over 14,350,000 ordinary shares, equivalent to 3.88% of the issued share capital of the Company, to certain directors, management and consultants. The exercise price of the Options is 4 pence per ordinary share, representing a premium of 0.25% to the average closing mid-market price of the ordinary shares on the 10 trading days prior to the date of grant. The Options expire on 13 March 2028.\n \n \n \n \n \n In addition, regarding vesting:\n \n \n a. one quarter of the Options vest immediately;\n \n \n b. one quarter of the Options vest on 13 September 2023;\n \n \n c. one quarter of the Options vest on 13 March 2024; and\n \n \n d. one quarter of the Options vest on 13 September 2024.\n \n \n \n \n \n Following the grant of the Options, the total number of share options over ordinary shares is 30,450,000, equivalent to 8.22% of the current ordinary issued share capital of the Company.\n \n \n \n \n \n Immediately post grant...