Giga Metals - Options Granted

Rhea-AI Summary

Giga Metals Corporation grants 570,000 stock options to Employees and Consultants.

VANCOUVER, British Columbia, Oct. 13, 2023 (GLOBE NEWSWIRE) -- Giga Metals Corporation (TSX.V:GIGA, OTCQX: GIGGF) today announced that pursuant to its Stock Option Plan, approved by the TSX Venture Exchange, the Company will be granting 570,000 stock options to certain Employees and Consultants, exercisable at $0.30 per share, expiring October 13, 2028. 25% of the options will vest immediately, with an additional 25% vesting on each anniversary after issuance. 100% of the options will vest in the event of a change of control of the Company.

About Giga Metals Corporation

Giga Metals Corporation’s core asset is the Turnagain Project, located in northern British Columbia, which contains one of the few significant undeveloped sulphide nickel and cobalt resources in the world. Turnagain is held in Hard Creek Nickel, a subsidiary owned 85% by Giga Metals Corporation and 15% by Mitsubishi Corporation. The Pre-Feasibility Study results were announced in September 2023.

On behalf of the Board of Directors of Giga Metals Corporation

“Mark Jarvis”

MARK JARVIS, CEO and Chairman

Contact Information
Office Phone: +1 (604) 681-2300
Investor Inquiries: info@gigametals.com
Company Website: www.gigametals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Suite 203 – 700 West Pender St., Vancouver, BC, Canada V6C 1G8

 

FAQ

What is the announcement by Giga Metals Corporation?

Giga Metals Corporation is granting 570,000 stock options to certain Employees and Consultants.

What is the exercise price of the stock options?

The exercise price of the stock options is $0.30 per share.

When do the stock options expire?

The stock options expire on October 13, 2028.

How will the stock options vest?

25% of the options will vest immediately, with an additional 25% vesting on each anniversary after issuance.

What happens in the event of a change of control of the Company?

100% of the options will vest in the event of a change of control of the Company.