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Noble adopts Supplemental Equity Incentive Plan, provisionally grants RSUs and grants stock options
(via TheNewswire) Toronto, Ontario / TheNewswire / October 20, 2017 - Noble Mineral Ex...
About this update from Noble Mineral Exploration Inc.
[{"type":"text","content":"Noble adopts Supplemental Equity Incentive Plan, provisionally grants RSUs and grants stock options(via TheNewswire)\n\n \nToronto, Ontario / TheNewswire / October 20, 2017 - Noble Mineral Exploration Inc. (\"Noble\" or the \"Company\") (TSX-V:NOB, FRANKFURT:NB7, OTC.PK:NLPXF) announces that its Board of Directors approved the adoption of a Supplement Equity Incentive Plan (the \"Supplemental EIP\"). Noble currently has in place an Amended and Restated Stock Option Plan (the \"Option Plan\") as a rolling 10% option plan. The maximum number of common shares that can be reserved for issuance upon the exercise of stock options granted under the Option Plan is 10% of Noble's issued and outstanding common shares at that time. Having determined that it would be beneficial for Noble to also be able to issue other forms of equity-based incentive compensation, in addition to stock options, Noble applied to the TSX Venture Exchange approval for approval of the Supplemental EIP.\n\n \n \nThe TSX Venture Exchange having granted conditional approval of the Supplemental EIP, the Board of Directors approved that plan and reserved 6,127,000 common shares as the maximum number of common shares that may be issued under the Supplemental EIP. Shareholders should note that the number of shares reserved for options under the Option Plan and the number of shares reserved for other forms of equity based incentive compensation under the Supplemental EIP cannot exceed 10% of Noble's issued and outstanding common shares. Noble plans to submit the Supplemental EIP for approval of its shareholders at its next shareholder meeting.\n\n \n \nNoble also reports that its Board of Directors approved the following grants of equity incentive compensation:\n\n \n \n\n\n- 1,700,000 stock options under the Option Plan, all exercisable at $0.125 per common share, 400,000 of which were granted to the corporation through which the Company's Chief Financial Officer provides his services to Noble and 200,000 of which were granted to an individual who provides investor relations services to the Company; and\n\n\n\n \n \n\n\n- 3,800,000 restricted share units provisionally issued under the Supplemental EIP, all to directors or officers of Noble or to the entities through which directors or officers provide their services to Noble.\n\n\n\n \n \nAll stock options granted veste...