Newcore Gold Announces Annual Grant of Equity Incentive Awards

Rhea-AI Summary

Newcore Gold Ltd. (TSX-V: NCAU, OTCQX: NCAUF) announced the annual grant of equity incentive awards, issuing 1,690,000 stock options and 320,000 restricted share units to employees, directors, and executives. The stock options are priced at $0.30 per share for five years and are subject to vesting and regulatory approval. Newcore is advancing its Enchi Gold Project in Ghana's Bibiani Shear Zone, which has a strong gold production potential. The company emphasizes shareholder alignment with management holding 24% equity.

Positive

• Issuance of 1,690,000 stock options and 320,000 restricted share units enhances employee incentive alignment.
• Stock options priced at $0.30 provide potential upside for both employees and shareholders.
• Newcore's leadership holds 24% equity, aligning management interests with shareholders.

Negative

• None.

VANCOUVER, British Columbia, Aug. 19, 2022 (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 1,690,000 stock options and 320,000 restricted 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 $0.30 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 24% 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 2021 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 stock options and equity awards were granted by Newcore Gold Ltd. on August 19, 2022?

Newcore Gold Ltd. granted 1,690,000 stock options and 320,000 restricted share units on August 19, 2022.

What is the stock price for the options granted by Newcore Gold Ltd.?

The stock options were granted at a price of $0.30 per share.

How long are the stock options granted by Newcore Gold Ltd. valid for?

The stock options are valid for a period of five years.

What project is Newcore Gold advancing?

Newcore Gold is advancing its Enchi Gold Project located in Ghana.

What is the relationship between management and shareholders at Newcore Gold Ltd.?

Newcore's leadership holds 24% of the company's equity, aligning their interests with shareholders.