Business
Issuance of Incentive Stock Options
LONDON, UK / ACCESSWIRE / January 22, 2020 / Gabriel Resources Ltd. ("Gabriel" or the "Compa...
About this update from Gabriel Resources Ltd.
[{"type":"text","content":"Issuance of Incentive Stock OptionsLONDON, UK / ACCESSWIRE / January 22, 2020 / Gabriel Resources Ltd. (\"Gabriel\" or the \"Company\") announces that it has granted an aggregate of 5,850,000 incentive stock options under the Company's stock option plan (the \"Option Plan\") to certain officers and employees of the Gabriel group of companies in relation to 2019 compensation awards. All incentive stock options so granted are exercisable for a period of ten years at $0.46 per share and vest as to 50% immediately from the date of grant and 50% on the first anniversary of 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 31,485,711 common shares of the Company are reserved for issuance under the Option Plan, representing approximately 5.5% of the issued and outstanding share capital.For information on this press release, please contact:Dragos TanasePresident & CEOPhone: +1 425 414 [email protected] BrownChief Financial OfficerPhone: +44 7748 [email protected] 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 InformationAbout GabrielGabriel 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 defined below) focused substantially all of th...