Aurania Grants Stock Options Including Options in Lieu of Fees to Directors

Rhea-AI Summary

Aurania Resources announced the grant of 2,154,000 stock options under its Incentive Stock Option Plan to directors, officers, employees, and consultants. This includes 54,000 options granted to directors in lieu of their second-quarter fees, with each director receiving 13,500 options at an exercise price of $0.46. The remaining 2,100,000 options were allocated to directors, officers, employees, and consultants.

The options are priced at C$0.46, exercisable for five years, and subject to standard vesting conditions.

Positive

• Grant of 2,154,000 stock options to incentivize key personnel.
• Stock options priced at C$0.46, indicating potential confidence in future stock performance.

Negative

• Directors accepting stock options in lieu of cash fees could indicate cash flow issues.

Toronto, Ontario--(Newsfile Corp. - July 2, 2024) - Aurania Resources Ltd. (TSXV: ARU) (OTCQB: AUIAF) (FSE: 20Q) ("Aurania" or the "Company") announces the grant of 2,154,000 stock options to directors, officers, employees and consultants pursuant to the terms and subject to the conditions of the Company's Incentive Stock Option Plan.

As previously announced on March 28, 2024, the Directors of the Company agreed to receive their quarterly director fees for 2024 in the form of stock options in lieu of cash. On June 28^th, 2024, each director was granted 13,500 stock options at an exercise price of $0.46. An aggregate of 54,000 stock options were granted to directors in lieu of their second quarter fees.

Additionally, the Board of Directors granted up to 2,100,000 stock options to directors, officers, employees and consultants in accordance with the Company's Stock Option Plan. The stock options have an exercise price of C$0.46, are exercisable for five years and are subject to customary vesting conditions.

About Aurania

Aurania is a mineral exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper in South America. Its flagship asset, The Lost Cities - Cutucu Project, is located in the Jurassic Metallogenic Belt in the eastern foothills of the Andes mountain range of southeastern Ecuador.

Information on Aurania and technical reports are available at www.aurania.com and www.sedarplus.ca, as well as on Facebook at https://www.facebook.com/auranialtd/, Twitter at https://twitter.com/auranialtd, and LinkedIn at https://www.linkedin.com/company/aurania-resources-ltd-.

For further information, please contact:

Carolyn Muir
VP Corporate Development & Investor Relations
Aurania Resources Ltd.
(416) 367-3200
carolyn.muir@aurania.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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215189

FAQ

What stock options has Aurania Resources granted in July 2024?

Aurania Resources granted 2,154,000 stock options to directors, officers, employees, and consultants, including 54,000 options to directors in lieu of their second-quarter fees.

What is the exercise price for Aurania Resources' stock options issued in July 2024?

The exercise price for the stock options is C$0.46.

How many stock options did Aurania Resources grant to its directors in lieu of cash fees?

Aurania Resources granted 54,000 stock options to its directors in lieu of their second-quarter fees.

What is the duration for exercising Aurania Resources' newly granted stock options?

The stock options are exercisable for five years.

Are Aurania Resources' stock options subject to any conditions?

Yes, the stock options are subject to customary vesting conditions.