VANCOUVER, BC / ACCESSWIRE / January 17, 2020 / Skeena Resources Limited (TSX.V:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") is pleased to announce the results of the Company's Annual General meeting of Shareholders ("AGM") held in Vancouver, British Columbia on January 10, 2020 including the appointment of Suki Gill to the Board of Directors of the Company as an independent director.
Ms. Gill currently serves as a partner at Smythe LLP. She is a Chartered Professional Accountant with 19 years of experience and specializes in providing assurance services to publicly traded companies operating in the resource industry, as well as private companies across a number of industries in both Canada and the United States. Ms. Gill is on the board of directors for Provincial Health Services Authority and British Columbia Emergency Health Services.
Shareholders approved all motions put forth at the AGM including the appointment of Grant Thornton LLP as the Company's independent auditor, and the annual confirmation of the Company's Stock Option Plan. The shareholders re-elected Walter Coles, Craig Parry, Borden R. Putnam III and Isac Burstein to the Company's Board of Directors. Skeena would like to thank the outgoing board member, Don Siemens, for his time spent with the Company.
The Company also reports that the Board of Directors granted 2,940,000 incentive stock options to directors, officers, employees and consultants of the Company, subject to TSX Venture Exchange acceptance. The options will have a term of 5 years, expiring on January 17, 2025. All of the options will vest over a 24-month period with one third of the options vesting immediately, one third after 12 months and one third after 24 months. Each option will allow the holder to purchase one common share in the Company at a price of C$1.04. Any shares issued on the exercise of these stock options will be subject to a four month hold period from the date of grant.
In addition, subject to regulatory approval, the Company announces that it has approved the reservation of 192,308 common shares in the capital of the Company in order to satisfy the payment of incentive compensation declared by the Board of Directors as payable to certain officers and employees of the Company (the "Incentive Shares"), subject to vesting. In order to help retain and motivate key members of management, these Incentive Shares will not be issued unless or until they vest on January 17, 2022, or in the event of a change of control of the Company if sooner. The Incentive Shares are currently valued at $200,000, but it is expected that they will have a different value upon the eventual vesting and issuance to the key members of management, if the vesting conditions are satisfied.