Irving Resources Reports 2021 Grant of Stock Options

Rhea-AI Summary

Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announced the granting of 1,745,000 incentive stock options to its directors, officers, employees, and consultants. These options have an exercise price of $1.09 per share and a term of three years, with one-third vesting every six months. The company focuses on gold exploration in Japan and has a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC), which aims to discover economic deposits of metals in Japan.

Positive

• Granting of 1,745,000 incentive stock options can motivate management and employees, potentially boosting company performance.
• The exercise price of $1.09 indicates management's confidence in the company's future growth.
• Partnership with JOGMEC enhances exploration capabilities and resource discovery efforts in Japan.

Negative

• None.

VANCOUVER, British Columbia, Dec. 21, 2021 (GLOBE NEWSWIRE) -- Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) announces that pursuant to the Company’s stock option plan, it has granted incentive stock options to its directors, officers, employees and consultants to purchase an aggregate of 1,745,000 common shares at an exercise price of $1.09 per share.  The stock options have a term of three (3) years, subject to one-third of the grant vesting every six (6) months from grant day with full vesting in the first 18 months of the term.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

Additional information can be found on the Company’s website:  www.IRVresources.com.

Akiko Levinson,
President, CEO & Director

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

FAQ

What stock options did Irving Resources grant recently?

Irving Resources granted 1,745,000 incentive stock options at an exercise price of $1.09.

How long are the stock options valid for Irving Resources?

The stock options have a term of three years.

What is the vesting schedule for the stock options at Irving Resources?

One-third of the options will vest every six months, with full vesting in the first 18 months.

What is the focus of Irving Resources?

Irving Resources focuses on gold exploration in Japan.

Who is Irving Resources partnered with for exploration?

Irving Resources has a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC).