Bayridge Announces Grant of Stock Options and Restricted Share Units

Rhea-AI Summary

Bayridge Resources Corp. (CSE: BYRG) grants 600,000 stock options and 800,000 restricted share units to consultants. Options can be exercised at $0.57 per share and expire in three years. RSUs vest over a 16-month period.

Vancouver, British Columbia--(Newsfile Corp. - April 5, 2024) - Bayridge Resources Corp. (CSE: BYRG) ("Bayridge" or the "Company") is pleased to announce that, pursuant to its equity incentive plan, it has granted an aggregate of 600,000 incentive stock options (each, an "Option") to certain consultants of the Company. All of the Options vested on the date of grant. Each Option may be exercised for one (1) common share in the capital of the Company (each, a "Share") at a price of $0.57 per Share. The Options expire on the date that is three (3) years from the date of grant.

The Company also granted an aggregate of 800,000 restricted share units (each, an "RSU") to certain consultants of the Company. The RSUs will vest as follows: (i) 25% will vest four (4) months after the date of grant; (ii) 25% will vest eight (8) months after the date of grant; (iii) 25% will vest twelve (12) months after the date of grant; and (iv) 25% will vest sixteen (16) months after the date of grant.

About Bayridge Resources Corp.

Bayridge Resources Corp. is a mining exploration company that currently operates the Sharpe Lake property, a lithium exploration project in Ontario. The Company also has an interest in two uranium exploration projects located in the Athabasca Basin in Saskatchewan, which were optioned from Canalaska Uranium Corp.

For more information, please contact:

Charn Deol, Director and Chief Executive Officer
E-mail: charnee@gmail.com
Tel: 604-760-1781

The CSE has not reviewed, approved, or disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204612

FAQ

How many stock options were granted by Bayridge Resources Corp.?

Bayridge Resources Corp. granted a total of 600,000 stock options to certain consultants.

What is the exercise price for each share under the stock options?

Each stock option can be exercised for one common share at a price of $0.57 per share.

When do the options expire?

The options granted by Bayridge Resources Corp. expire three years from the date of grant.

How many restricted share units were granted by Bayridge Resources Corp.?

Bayridge Resources Corp. granted a total of 800,000 restricted share units to certain consultants.

How do the restricted share units vest?

The restricted share units granted by Bayridge Resources Corp. vest over a 16-month period, with 25% vesting at four, eight, twelve, and sixteen months after the date of grant.