Lumina Gold Announces Granting of Options

Rhea-AI Summary

Lumina Gold Corp. (TSXV: LUM, OTCQX: LMGDF) announced the granting of incentive stock options to directors, officers, employees, and consultants amounting to 9,255,000 common shares, exercisable at $0.405 per share, expiring on November 18, 2027. The majority of options will vest over two years. Additionally, Lumina renewed its agreement with First Globe Capital International Inc. for another year, compensating them with the options mentioned. First Globe is focused on providing institutional fundraising and advisory services.

Positive

• Granting of 9,255,000 stock options, which can incentivize management and staff.
• Renewed partnership with First Globe Capital for advisory services, enhancing investor relations.

Negative

• None.

VANCOUVER, BC, Nov. 18, 2022 /PRNewswire/ - Lumina Gold Corp. (TSXV: LUM) (OTCQX: LMGDF) (the "Company" or "Lumina") announces that it has granted incentive stock options under the Company's stock option plan to certain directors, officers, employees and consultants of the Company to purchase up to an aggregate of 9,255,000 common shares of the Company. The options are exercisable at a price of $0.405 per share and will expire on November 18, 2027. 9,130,000 of the options will vest in three equal parts over the first two years after grant and 125,000 options (the "First Globe Options") will vest in four equal parts over the first two years after grant.

Additionally, the Company has renewed its agreement with First Globe Capital International Inc. ("First Globe") that was announced on December 30, 2016, for an additional 12 months. First Globe is based out of Vancouver, British Columbia, and is owned by Anish Sunderji. First Globe provides institutional fundraising and advisory services to its clients. The Company has compensated First Globe for its services by granting the First Globe Options described above. In addition, the Company has also agreed to reimburse First Globe for its reasonable incidental expenses incurred in providing the investor relation services to the Company. First Globe does not otherwise have any relationship with or hold any securities of the Company, except for previously granted stock options.

About Lumina Gold

Lumina Gold Corp. (TSXV: LUM) is a Vancouver, Canada based precious and base metals exploration and development company focused on the Cangrejos Gold-Copper Project located in El Oro Province, southwest Ecuador. Cangrejos is being advanced to a Pre-Feasibility Study and is the largest primary gold deposit in Ecuador. Lumina has an experienced management team with a successful track record of advancing and monetizing exploration projects.

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Further details are available on the Company's website at https://luminagold.com/. To receive future news releases please sign up at https://luminagold.com/contact.

LUMINA GOLD CORP.

Signed: "Marshall Koval"

Marshall Koval, President & CEO, Director

Neither the 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 news release.

View original content:https://www.prnewswire.com/news-releases/lumina-gold-announces-granting-of-options-301682365.html

SOURCE Lumina Gold Corp.

FAQ

What options did Lumina Gold Corp. grant on November 18, 2022?

Lumina Gold Corp. granted 9,255,000 incentive stock options, exercisable at $0.405 per share.

What is the expiry date for the stock options granted by Lumina Gold Corp.?

The stock options will expire on November 18, 2027.

Who is First Globe Capital International Inc. in relation to Lumina Gold?

First Globe Capital provides institutional fundraising and advisory services to Lumina Gold Corp.

How will the stock options vest for Lumina Gold Corp. employees?

9,130,000 options will vest in three equal parts over the first two years, while 125,000 options will vest in four equal parts over the first two years.