Business
Sirios Resources Announces Approval of Amendments to its Stock Option Plan
MONTREAL, Feb. 23, 2023 (GLOBE NEWSWIRE) -- SIRIOS RESOURCES INC. (TSX-V: SOI) (the “Corporation”) announces that at the annual and special meeting of its share
About this update from Sirios Resources, Inc.
[{"type":"text","content":" MONTREAL, Feb. 23, 2023 (GLOBE NEWSWIRE) -- SIRIOS RESOURCES INC. (TSX-V: SOI) (the “Corporation”) announces that at the annual and special meeting of its shareholders on December 15, 2022 (the \"Meeting\"), shareholders approved the renewal of the Corporation stock option plan (the \"Stock Option Plan\"), as amended. Pursuant to the policies of the TSX Venture Exchange (the “Exchange”), the Stock Option Plan is a \"10% rolling\" stock option plan. The maximum aggregate number of common shares that may be reserved for issuance under the Stock Option Plan is equal to 10% of the outstanding common shares of the Corporation at the time of the grant of an option. On November 24, 2021, the Exchange adopted a new policy governing security-based compensation (the “Policy 4.4”). In accordance with the Policy 4.4, amendments have been made to the Stock Option Plan to ensure (i) that in any 12-month period, and at any point in time, the maximum aggregate number of stock options that may be granted to insiders of the Corporation (as a group) must not exceed 10% of the issued common shares of the Corporation and (ii) that the disinterested shareholders approval will be required for the extension of the term of a stock option if the optionholder is an insider of the Corporation. The full text of the Stock Option Plan can be found in Schedule A of the Corporation's management and information circular, a copy of which can be found on the Corporation's SEDAR profile at www.sedar.com. The Stock Option Plan remains subject to the final approval of the Exchange. About Sirios Pioneer in the discovery of significant gold deposits in the Eeyou Istchee James Bay region of Québec, Canada. Sirios Resources Inc. focuses its work mainly on its Cheechoo gold discovery, while actively exploring the high auriferous potential of its other properties. Forward-Looking Statements All statements, other than statements of historical fact, contained in this press release including, but not limited to, those relating to the final approval of the TSX Venture Exchange in connection with the renewal of the Stock Option Plan and, generally, the above “About Sirios Resources Inc.” paragraph which essentially describes the Corporation’s outlook, constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable s...