RooGold Grants Stock Options
RooGold Inc. (OTC PINK: JNCCF) announced the granting of stock options on December 29, 2022, subject to regulatory approval. A total of 5,900,000 options will be available to directors and officers at an exercise price of $0.05, under its 10% rolling stock option plan. Among these, 3,337,500 options will vest immediately, while the remaining 2,562,500 options will vest in six months. These options are exercisable for five years, expiring on December 29, 2027. RooGold is focused on mineral exploration in New South Wales, Australia, with a portfolio covering 1,380 km².
- Granting of 5,900,000 stock options at a low exercise price of $0.05 facilitates potential incentivization of key personnel.
- Immediate vesting of over half the options (3,337,500) aligns interests of management with shareholder value.
- Dependency on regulatory approval for the implementation of stock option grants introduces uncertainty.
- Significant issuance of stock options could lead to potential share dilution if exercised.
TORONTO, ON / ACCESSWIRE / December 30, 2022 / RooGold Inc. (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) ("RooGold" or the "Company") announces that on Deccember 29, 2022, subject to regulatory approval, it has granted stock options to certain directors and officers of the Company to acquire an aggregate of 5,900,000 common shares in the capital of the Company at an exercise price of
An aggregate of 3,337,500 Options vest upon the date of the grant with the remaining 2,562,500 Options vesting six months from the date of the grant. All Options are exercisable for a five-year term expiring December 29, 2027.
About RooGold Inc.
RooGold is a Canadian junior mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions that cover 1,380 km2, and collectively include 137 historic mines and prospects.
For further information please contact:
Ryan Bilodeau
(416) 910-1440
info@roogoldinc.com
Neither the CSE nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains statements about future vesting of Options, which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, among others, the delay or failure to receive all applicable regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
SOURCE: RooGold Inc.
View source version on accesswire.com:
https://www.accesswire.com/733689/RooGold-Grants-Stock-Options
FAQ
What stock options did RooGold grant on December 29, 2022?
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