Business
Gabriel Resources: Issuance of Incentive Stock Options and Deferred Share Units
LONDON, UK / ACCESSWIRE / January 8, 2020 / Gabriel Resources Ltd. (TSXV:GBU) ("Gabriel" or the "Company") announces that it has granted an aggregate of 102,704
About this update from Gabriel Resources Ltd.
[{"type":"text","content":" LONDON, UK / ACCESSWIRE / January 8, 2020 / Gabriel Resources Ltd. (TSXV:GBU) (\"Gabriel\" or the \"Company\") announces that it has granted an aggregate of 102,704 incentive stock options under the Company's stock option plan (the \"Option Plan\") and 115,944 deferred share units under the Company's deferred share unit plan (the \"DSU Plan\") to certain directors of the Company as non-cash directors' fees for Q4 2019 (the \"Director Grant\"). All incentive stock options issued under the Director Grant are exercisable for a period of ten years at $0.49 per share and vest immediately from the date of grant. The Option Plan allows for the issuance of up to 10% of the issued and outstanding share capital of the Company in the form of incentive stock options. As of the date hereof, a total of 25,635,711 common shares of the Company are reserved for issuance under the Option Plan, representing approximately 4.5% of the issued and outstanding share capital. 3,353,638 common shares of the Company are currently reserved for issuance under the DSU Plan. For information on this press release, please contact: Dragos TanasePresident & CEOPhone: +1 425 414 [email protected] Richard BrownChief Financial OfficerPhone: +44 7748 [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Further Information About Gabriel Gabriel is a Canadian resource company listed on the TSX Venture Exchange. The Company's principal focus has been the exploration and development of the Roșia Montană gold and silver project in Romania (\"Roşia Montană Project\"). The Roşia Montană Project, one of the largest undeveloped gold deposits in Europe, is situated in the South Apuseni Mountains of Transylvania, Romania, an historic and prolific mining district that since pre-Roman times has been mined intermittently for over 2,000 years. The exploitation license (\"License\") for the Roşia Montană Project is held by Roșia Montană Gold Corporation S.A., a Romanian company in which Gabriel owns an 80.69% equity interest, with the 19.31% balance held by Minvest Roșia Montană S.A., a Romanian state-owned mining company. Upon obtaining the License in June 1999, the Group (as defin...