Business
South Atlantic Gold Announces RSU/DSU Plan
(TheNewswire) Kelowna, British Columbia – TheNewswire - Octo...
About this update from South Atlantic Gold, Inc.
[{"type":"text","content":"South Atlantic Gold Announces RSU/DSU Plan\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Kelowna, British Columbia –\n \n \n \n \n TheNewswire -\n \n \n \n \n October 31, 2022 -\n \n \n \n \n SOUTH ATLANTIC GOLD INC.\n(TSXV:SAO)\n \n \n \n (“\n \n \n \n South Atlantic”\n \n \n \n or the “\n \n \n \n Company”\n \n \n \n ) announces that the\nboard of directors of the Company effective October 21, 2022 (the\n“\n \n \n Effective Date\n \n \n ”) have adopted a restricted share units\n \n \n (“RSUs”\n \n \n ) and\ndeferred share units (“\n \n \n DSUs\n \n \n \") long term incentive plan (the\n“\n \n \n LTIP\n \n \n \").\n \n \n \n \n The purposes of the LTIP will be to: (i) provide the\nCompany with a mechanism to attract, retain and motivate highly\nqualified directors, officers, employees and consultants; (ii) align\nthe interests of eligible participants of the LTIP with that of other\nshareholders of the Company generally; and (iii) enable and encourage\nparticipants to participate in the long-term growth of the Company\nthrough the acquisition of RSUs and DSUs as long-term\ninvestments.\n \n \n \n \n While the LTIP has been adopted by the board of\ndirectors of the Company, it remains subject to ratification by\nshareholders of the Company and approval of the TSX Venture Exchange\n(the “\n \n \n Exchange”\n \n \n ). In accordance with the policies\nof the Exchange, the Company is required to obtain disinterested\nshareholder approval for the implementation of the LTIP. These\napprovals will be sought at the upcoming meeting of shareholders of\nthe Company to be held on December 6, 2022 (the “\n \n \n Meeting\n \n \n ”).\n \n \n \n \n The maximum number of RSUs/DSUs issuable under the LTIP\nPlan may not exceed 9,433,666 common shares representing 10% of the\nnumber of issued and outstanding common shares of the Company as at\nthe Effective Date,\n \n \n \n \n Further details regarding the LTIP will be included in\nthe management information circular of the Company which will be sent\nto shareholders and filed on SEDAR in connection with the\nMeeting.\n \n \n \n \n About South Atlantic Gold\n \n \n \n \n South Atlantic Gold is an exploration company engaged\nin acquiring and advancing mineral proper...