Big Ridge Announces Grant of Incentive Stock Options and Share-based Compensation
Big Ridge Gold Corp. (TSXV: BRAU, OTCQB: ALVLF) announced the grant of incentive stock options and share-based compensation to officers and non-executive directors effective July 1, 2024.
The company awarded 1.5 million options to its officers under their Amended and Restated Option Plan, exercisable at $0.06 per share and expiring on July 1, 2029.
Additionally, 150,000 Restricted Share Units (RSUs) were awarded to officers, vesting in equal tranches from 2025 to 2027.
Furthermore, 1.8 million Deferred Share Units (DSUs) were awarded to directors, vesting immediately under the company's cash-based DSU Plan.
- Award of 1,500,000 options exercisable at $0.06 per share could align officers' interests with shareholders and potentially drive better performance.
- Immediate vesting of 1,800,000 DSUs for directors can enhance their commitment and motivation.
- Given the low exercise price of $0.06, the granted options may cause significant dilution of existing shares if exercised.
- The issuance of RSUs and DSUs could lead to shareholder dilution over time.
Toronto, Ontario--(Newsfile Corp. - July 2, 2024) - Big Ridge Gold Corp. (TSXV: BRAU) (OTCQB: ALVLF) ("Big Ridge" or the "Company") has awarded share-based compensation to certain officers and non-executive directors, with all awards effective July 1, 2024.
Big Ridge awarded a total of 1,500,000 options to its officers under the terms of the Company's Amended and Restated Option Plan. These options are exercisable at a price of
Finally, Big Ridge awarded a total of 1,800,000 Deferred Share Units ("DSUs") to its directors under the terms of the Company's cash-based DSU Plan. These DSUs vested with immediate effect.
About Big Ridge
Big Ridge is an exploration and development company managed by a disciplined and experienced team of officers and directors. The Company is committed to the development of advanced stage mining projects using industry best practices combined with strong social license from our local communities. Big Ridge is the operator of the Hope Brook Gold Project located in Newfoundland and Labrador. The company currently owns
Acknowledgement
Big Ridge acknowledges and appreciates the Newfoundland and Labrador Ministry of Natural Resources' financial support of the Company's 2023 exploration programs through the Junior Exploration Assistance (JEA) Program.
For more details regarding the Company's projects, please visit our website at www.bigridgegold.com.
ON BEHALF OF THE BOARD,
Mike Bandrowski,
President & CEO
BIG RIDGE GOLD CORP.
18 King St. East, Suite 1400 Toronto, ON, M5C 1C4
Tel: 416-540-5480
Email: Mike@bigridgegold.com
Neither the 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.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian securities legislation. These forward-looking statements are made as of the date of this news release. Forward- looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "plans", "projects", "intends", "estimates", "envisages", "potential", "possible", "strategy", "goals", "objectives", or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions.
Forward-looking statements in this news release relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events, and include, without limitation, statements with respect to Big Ridge's intentions with respect to Caprock's shares. All forward-looking statements are based on Big Ridge's and its employees' current beliefs as well as various assumptions made by them and information currently available to them. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. When relying on our forward-looking statements to make decisions with respect to Big Ridge, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Big Ridge does not undertake to update any forward- looking statement, whether written or oral, that may be made from time to time by the Company or on our behalf, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215218
FAQ
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