Newcore Gold Announces Annual Grant of Equity Incentive Awards

Rhea-AI Summary

Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) has announced the annual grant of equity incentive awards totaling 1,190,000 stock options, 370,000 restricted share units, and 400,000 performance share units. The stock options are priced at $0.54 per share, valid for five years, and are subject to regulatory approval with specific vesting provisions. Newcore focuses on its Enchi Gold Project in Ghana, which spans 216 km² in a region known for high gold production, including a notable proximity to the Bibiani Shear Zone.

Positive

• Grant of 1,190,000 stock options, which could align employees' interests with shareholders.
• Stock options priced at $0.54 per share potentially provide value if the company's stock appreciates.
• Strong equity ownership by leadership (27%) indicating alignment with shareholder interests.
• Enchi Gold Project is located in a prolific gold-producing area, enhancing exploration opportunities.

Negative

• None.

VANCOUVER, British Columbia, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) announces the annual grant of equity incentive awards. Newcore has granted 1,190,000 stock options, 370,000 restricted share units and 400,000 performance share units (together the "Equity Incentive Awards") to various employees, directors and executives of the Company. The stock options were granted at a price of $0.54 per share for a period of five years. The Equity Incentive Awards are subject to regulatory approval, are granted under the Company’s long-term incentive plan and are subject to vesting provisions.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 27% equity ownership, and prime district scale exploration opportunities. Enchi’s 216 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.

^{(1) Source: Production volumes for 2020 as sourced from the World Gold Council}

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com

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 release.

FAQ

What is the latest equity incentive award granted by Newcore Gold Ltd. under ticker NCAUF?

Newcore Gold Ltd. granted 1,190,000 stock options, 370,000 restricted share units, and 400,000 performance share units as part of their annual equity incentive awards.

What is the exercise price of the stock options granted by Newcore Gold (NCAUF)?

The stock options granted by Newcore Gold are priced at $0.54 per share.

How does the Enchi Gold Project impact Newcore Gold Ltd.'s stock (NCAUF)?

The Enchi Gold Project, located in a significant gold-producing zone in Ghana, enhances Newcore Gold's exploration potential and could positively affect its stock performance if successful.

When was the equity incentive award announced by Newcore Gold Ltd. (NCAUF)?

The equity incentive award was announced on August 20, 2021.