Business
Galore Announces the Appointment of a New Director, a Shares for Services Arrangement and the Grant of Incentive Stock Options
(via TheNewswire) Vancouver, BC / TheNewswire / March 8, 2017 - Galore Resources Inc. (...
About this update from Galore Resources Inc.
[{"type":"text","content":"Galore Announces the Appointment of a New Director, a Shares for Services Arrangement and the Grant of Incentive Stock Options(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / March 8, 2017 - Galore Resources Inc. (TSX-V: GRI) (the \"Company\") is very pleased to announce the appointment of Kenneth Coe of Vancouver, B.C. to its board of directors.\n\n \n \nMr. Coe brings a vast wealth of financial market experience to Galore as a former licensed security trader with Yorkton Securities Inc. for over 30 years. He also helped start a Canadian/U.S. cross border trading business in 1989 and became Partner in a U.S. wholesale trading operation, which was eventually owned by Macquarie Private Wealth. He is a past director and President of the Vancouver Security Traders Association\n\n\n \nGalore and its management are excited to have Mr. Coe join its team to assist Galore in focusing on the continuing exploration and development of its properties in Mexico, including its primary focus, the 100% owned 49,400 acre Dos Santos project, which is located 22 miles southeast of Goldcorp's Penasquito gold-silver, base-metal project.\n\n\n \nThe Company's Board of Directors has also authorized management to proceed with a shares for services arrangement with a consultant / contactor for the Company. The deemed price of the shares to be issued shall be determined after the date the services are provided to the Company. As of the date of this release, the Company has incurred US $136,566 of these services with the contractor and has agreed to issue 2,000,000 common shares in payment at a deemed price of CDN$0.09 per share. The shares will be subject to a 4 month hold period from the date of issuance and the arrangement shall be subject to regulatory approval.\n\n \n \nThe shares associated with this shares for services arrangement are being issued to preserve cash committed to project development and working capital.\n\n \n \nGalore also announces the grant of a total of 800,000 incentive stock options to consultants and directors of the Company pursuant to the Company's Stock Option Plan, exercisable at a price of $0.05. 500,000 of these options will be exercisable for a period of two years from the date of grant and 300,000 will be exercisable for a period of five years from the date of grant.\n\n\n \nGalore Resources is a British Columbia-b...