Lavras Gold Corp. Issues Stock Options & RSUs
Lavras Gold Corp. (TSXV: LGC, OTCQX: LGCFF) announced the issuance of 1,454,000 stock options and 101,419 Restricted Share Units (RSUs) to its directors, officers, consultants, and employees. The stock options allow the purchase of common shares at $1.70 per share, expiring on May 30, 2029. The RSUs, granted to officers, vest on May 30, 2025, and will be settled with company shares. This issuance follows the company's standard practice, aligning with a similar grant given in 2023.
- Issuance of 1,454,000 stock options encourages employee and executive retention.
- Stock options are exercisable at $1.70 per share, potentially profitable if the stock price increases.
- 101,419 RSUs granted, which can incentivize and retain key company officers.
- The vesting of RSUs until May 30, 2025, ensures long-term commitment from officers.
- Grants align with the company’s annual practices, indicating consistency in their compensation strategy.
- Potential shareholder dilution from the issuance of 1,454,000 new stock options.
- RSUs will be settled with shares of the company, potentially further diluting shareholder value.
- The stock options and RSUs could be seen as excessive if the company's stock performance does not justify such compensation.
Toronto, Ontario--(Newsfile Corp. - May 30, 2024) - Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) ("Lavras" or the "Company") has granted an aggregate of 1,454,000 stock options (the "Options") to purchase common shares (the "Common Shares") of the Company exercisable at a price of
As well, 101,419 Restricted Share Units (RSUs) were granted to officers of the Company in addition to the stock options. The RSUs vest on May 30, 2025, and will be settled with shares of the Company.
The stock options and RSUs were granted as per the Company's normal course of business, roughly one year from the grant done in 2023, prior to the Annual General Meeting.
About Lavras Gold Corp.
Lavras Gold Corp. (TSXV: LGC) (OTCQX: LGCFF) is a Canadian exploration company focused on realizing the potential of a multi-million-ounce gold district in southern Brazil. Its Lavras do Sul Project is located in Rio Grande do Sul State and is primarily an intrusive hosted gold system of possible alkaline affinity. More than 24 gold prospects centred on historic gold workings have been identified on the property, which spans more than 22,000 hectares. Follow Lavras Gold on www.lavrasgold.com, as well as on LinkedIn, Twitter, and YouTube.
On Behalf of Lavras Gold Corp.
"Michael Durose"
President & CEO
For further information, please visit the Lavras Gold Corp. website at www.lavrasgold.com, or contact:
Michael Durose, President & CEO
or
Naomi Nemeth, VP Investor Relations
Phone: +1-289-624-1343 or +1-289-624-1377
Email: investor@lavrasgold.com
Website: www.lavrasgold.com
X (Twitter): @LavrasGold
LinkedIn: https://www.linkedin.com/company/lavras-gold-corp
Disclaimer: Neither 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.
Forward-looking statements: This news release includes certain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively "forward-looking statements"). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/211197
FAQ
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