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TORONTO, April 30, 2024 (GLOBE NEWSWIRE) -- Galantas Gold Corporation (TSX-V & AIM: GAL; OTCQX: GALKF) (“Galantas” or the “Company”) reports that it has awarded 3,175,000 incentive stock options on the Company’s common shares to directors, employees and consultants, in accordance with the terms of the Company’s incentive Stock Option Plan. The exercise price for the options, which expire on April 29, 2029, is C$0.23 per share and the grant of these options was approved by the Board of Directors on April 23, 2024. The options will vest as to one third immediately and one third on each of April 29, 2025 and April 29, 2026, and are valid for a 5-year period from the date of grant.
The number of options issued to directors, employees and consultants are noted below:
| Name of Optionee | Position | Number of Options |
| James Clancy | Director | 125,000 |
| Róisín Magee | Director & Chair | 200,000 |
| Mario Stifano | Director & Officer | 1,000,000 |
| Brent Omland | Director & Strategic Advisor | 125,000 |
| David Cather | Director | 125,000 |
| Brendan Morris | Officer | 250,000 |
| Alan Buckley | Officer | 250,000 |
| George Duguay | Officer | 75,000 |
| Employees and Consultants | Various | 1,025,000 |
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| Total Options Granted | 3,175,000 |
The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. The total number of incentive stock options outstanding prior to this award was 5,777,500 which results in the total number of incentive stock options now outstanding for the Company being 8,952,500, representing 7.8% of the Company’s issued and outstanding shares, which total 114,535,293.
The aforementioned stock option grants are subject to TSX Venture Exchange approval.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
About Galantas Gold Corporation
Galantas Gold Corporation is a Canadian public company that trades on the TSX Venture Exchange and the London Stock Exchange AIM market, both under the symbol GAL. It also trades on the OTCQX Exchange under the symbol GALKF. The Company's strategy is to create shareholder value by operating and expanding gold production and resources at the Omagh Project in Northern Ireland, and exploring the Gairloch Project hosting the Kerry Road gold-bearing VMS deposit in Scotland.
Enquiries
Galantas Gold Corporation
Mario Stifano: Chief Executive Officer
Email: info@galantas.com
Website: www.galantas.com
Telephone: +44(0)28 8224 1100