West Point Gold Announces Stock Option Grant

Rhea-AI Summary

West Point Gold Corp. (TSXV: WPG) (OTCQB: AUSVF) has announced a stock option grant approved by its Board of Directors. The company has granted a total of 4,950,000 stock options to officers, directors, and consultants at an exercise price of $0.29 per share. The options are structured in three tranches: 3,250,000 options vesting in stages (50% immediate, 25% at 12 months, 25% at 24 months) expiring December 24, 2029; 500,000 options vesting quarterly over 12 months expiring December 24, 2026; and 1,200,000 options vesting immediately and expiring December 24, 2029.

Positive

• None.

Negative

• Potential shareholder dilution from 4,950,000 new stock options

Vancouver, British Columbia--(Newsfile Corp. - December 23, 2024) - West Point Gold Corp. (TSXV: WPG) (OTCQB: AUSVF) ("West Point Gold" or the "Company") announces that its Board of Directors has approved a grant of stock options to officers, directors and consultants of the Company pursuant to the Company's 2020 Stock Option Plan. A total of 4,950,000 stock options have been granted to acquire common shares in the capital of the Company at an exercise price of $0.29 per share. Of these stock options, a total of 3,250,000 vest 50% immediately, 25% twelve months from the grant date and 25% twenty-four months from the grant date and expire December 24, 2029. A further 500,000 stock options vest 25% three, six, nine and twelve months following the grant date and expire December 24, 2026. Finally, 1,200,000 stock options vest immediately and expire December 24, 2029.

About West Point Gold Corp.

West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at five projects in the prolific Walker Lane Trend, covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.

For further information regarding this press release, contact:
Quentin Mai, President, CEO and Director
Phone: 604-638-5622
Email: quentin@gold79mines.com

Or

Investor Relations
Kin Communications Inc.
604-684-6730
Auu@kincommunications.com

Stay Connected with Us:
Twitter: @westpointgoldUS
LinkedIn: https://www.linkedin.com/company/westpointgold/

FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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/234986

FAQ

What is the exercise price for West Point Gold's (AUSVF) new stock options?

The exercise price for West Point Gold's stock options is $0.29 per share.

How many stock options did West Point Gold (AUSVF) grant in December 2024?

West Point Gold granted a total of 4,950,000 stock options to officers, directors, and consultants.

What are the vesting schedules for West Point Gold's (AUSVF) December 2024 stock options?

The options have three different vesting schedules: 3,250,000 options vest 50% immediately, 25% at 12 months, and 25% at 24 months; 500,000 options vest 25% quarterly over 12 months; and 1,200,000 options vest immediately.

When do West Point Gold's (AUSVF) December 2024 stock options expire?

3,250,000 options and 1,200,000 options expire on December 24, 2029, while 500,000 options expire on December 24, 2026.