Galantas Gold Corporation
TSX VENTURE : GAL
AIM : GAL

Galantas Gold Corporation

June 03, 2015 09:00 ET

Galantas Reports Award of Incentive Stock Options

TORONTO, ONTARIO--(Marketwired - June 3, 2015) - Galantas Gold Corporation (the 'Company') (TSX VENTURE:GAL)(AIM:GAL) reports that it has awarded 3,550,000 incentive stock options on the Company's common shares to directors, officers, consultants and key employees, in accordance with the terms of the Company's incentive Stock Option Plan (2004). The exercise price for the options, which expire on June 1, 2020 is $0.105 Canadian per share and the granting of these options were approved by the Board on June 1, 2015. These options will vest immediately.

Number of options issued to directors and executives are noted below:

Director or
Executive
Officer
Present office Number of
Common
Shares
Owned,
Beneficially
Held or
Controlled
% of
Class
Held or
Controlled
Number of
existing
share
options
Exercise
price of
existing
share
options
Expiry
date of
existing
share
options
New
options
granted
Total
options
held
following
grant
Ronald
Alexander
Director 112,000 0.10% 50,000 $0.50 Sept 6/16 100,000 150,000
Lionel J.
Gunter
Non-Executive Chairman and Director 3,393,088 3.90% 100,000 $0.50 Sept 6/16 200,000 300,000
Roland
Phelps
President and Chief Executive Officer and Director 21,472,916 24.60% 200,000 $0.50 Sept 6/16 500,000 700,000
James B.
Clancy
Director 36,846 0.04% 50,000 $0.50 Sept 6/16 100,000 150,000
James I.
Golla
Director 20,000 0.02% 50,000 $0.50 Sept 6/16 100,000 150,000
Leo
O'Shaughnessy
Chief Financial Officer 320,500 0.40% 50,000 $0.50 Sept 6/16 200,000 250,000

The total number of incentive stock options outstanding prior to this award was 940,000 with an exercise price of $0.50 Canadian per share resulting in the total number of incentive stock options now outstanding for the Company being 4,490,000.

As at June 3, 2015 Galantas Gold Corporation Issued and Outstanding Shares total 87,297,155.

This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.

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.

Contact Information

  • Galantas Gold Corporation
    Jack Gunter P.Eng
    Chairman
    +44 (0) 2882 241100

    Galantas Gold Corporation
    Roland Phelps C.Eng
    President & CEO
    +44 (0) 2882 241100
    info@galantas.com
    www.galantas.com

    Grant Thornton UK LLP (Nomad)
    Philip Secrett
    Richard Tonthat
    +44(0)20 7383 5100

    Whitman Howard Ltd (Broker & Corporate Adviser)
    Neil Pidgeon
    Nick Lovering
    +44(0)20 7659 1234