Business
Rupert Resources Announces Issue of Options to Board and Management
TORONTO, ON / ACCESSWIRE / August 23, 2019 / Rupert Resources Ltd (TSX-V:RUP)(FSE:R05)...
About this update from Rupert Resources Ltd.
[{"type":"text","content":"Rupert Resources Announces Issue of Options to Board and ManagementTORONTO, ON / ACCESSWIRE / August 23, 2019 / Rupert Resources Ltd (TSX-V:RUP)(FSE:R05) (“the Company”) announces the issue of options to acquire shares in the Company (“options”) in accordance with the Company’s Stock Option Plan dated August 6, 2010 (the “plan”). The Company granted a total of 2,565,000 options to certain directors, officers and employees of the Company. The options were granted on August 22, 2019 with an exercise price of $0.87 per share. The options are exercisable for a five-year period from the date of grant, with 50% of the options vesting after 12 months and the remainder after 24 months.Following the award of the options, there are 10,700,000 options outstanding under the plan, representing 8.7% of the issued and outstanding shares of the Company.About RupertRupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (“Pahtavaara”). Pahtavaara has an Inferred mineral resource at a 1.5 g/t Au cut off grade of 4.6 Mt at a grade of 3.2 g/t Au (474 koz) (see the technical report entitled “NI 43-101 Technical Report: Pahtavaara Project, Finland” with an effective date of April 16, 2018, prepared by Brian Wolfe, Principal Consultant, International Resource Solutions Pty Ltd., an independent qualified person under National Instrument 43-101 - Standards of Disclosure for Mineral Projects). The Company also holds a 100% interest in two properties in Central Finland - Hirsikangas and Osikonmaki; the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake, Ontario; and the Surf Inlet Property in British Columbia.For further information, please contact:James WithallChief Executive [email protected] CredlandHead of Corporate Development & Investor [email protected] Resources Ltd82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1Tel: +1 416-304-9004Web: http://rupertresources.com/Neither the TSX Venture Exchange nor its Regulation Ser...