Skeena Announces Grant of Incentive Stock Options

Rhea-AI Summary

Skeena Resources Limited (OTCQX:SKREF) has granted 5,470,000 incentive stock options to its directors, officers, employees, and consultants, subject to regulatory approval. These options will vest over two years, with one-third vesting immediately, another third after 12 months, and the final third after 24 months. Each option allows for the purchase of one common share at C$2.52 for a term of 5 years, expiring on November 27, 2025. The company is focused on developing the Eskay Creek gold-silver mine in British Columbia.

Positive

• Grant of 5,470,000 incentive stock options supports employee retention and motivation.
• Options vesting schedule aligns interests of employees with company performance.
• Stock purchase price of C$2.52 may create value if market price exceeds this level.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / November 27, 2020 / Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) ("Skeena" or the "Company") announces that the Board of Directors granted 5,470,000 incentive stock options to directors, officers, employees and consultants of the Company in accordance with the Company's incentive stock option plan, subject to regulatory acceptance. These incentive stock options vest over two years with one third of the incentive stock options vesting immediately, one-third after 12 months and one-third after 24 months. After vesting, each incentive stock option will allow the holder to purchase one common share in the Company at a price of C$2.52. The incentive stock options have a term of 5 years, expiring on November 27, 2025 or upon departure of the option-holder. Shares issued in conjunction with the exercise of these incentive stock options will be subject to a four-month hold period from the date of grant.

About Skeena
Skeena Resources Limited is a junior mining company focused on developing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a robust Preliminary Economic Assessment in late 2019 and is currently focused on infill and exploration drilling at Eskay Creek to advance the project to Prefeasibility. Skeena is also exploring the past-producing Snip gold mine.

On behalf of the Board of Directors of Skeena Resources Limited,
Walter Coles Jr.
President & CEO

Contact Information
Investor Inquiries: info@skeenaresources.com
Office Phone: +1 604 684 8725
Company Website: www.skeenaresources.com

Cautionary Note Regarding Forward-Looking Statements
Certain statements made and information contained herein may constitute "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

CONTACT:
Walt Coles Jr.
President & CEO

Kelly Earle
Vice President Communications
Email: kearle@skeenaresources.com
Tel: (604) 684-8725

SOURCE: Skeena Resources Limited

View source version on accesswire.com:
https://www.accesswire.com/618644/Skeena-Announces-Grant-of-Incentive-Stock-Options

FAQ

What is the significance of the incentive stock options granted by Skeena Resources (SKREF)?

The grant of 5,470,000 incentive stock options is significant as it serves to retain talent and align the interests of employees with shareholder value.

When do the incentive stock options for SKREF vest?

The incentive stock options vest over two years, with one-third vesting immediately, one-third after 12 months, and one-third after 24 months.

What is the exercise price for the stock options issued by Skeena Resources (SKREF)?

The exercise price for the stock options is C$2.52 per share.

What is the expiration date for the stock options granted to SKREF employees?

The stock options will expire on November 27, 2025.