Galantas Gold Corp: Reports Award of Incentive Stock Options
TORONTO, Jun 3, 2015 - Galantas Gold Corp. (the 'Company') (TSX VENTURE:GAL) (AIM:GAL) reports that it has awarded 3,550,000 incentive stock options on the Company's common shares to directors, officers, consultants and key employees, in accordance with the terms of the Company's incentive Stock Option Plan (2004). The exercise price for the options, which expire on June 1, 2020 is $0.105 Canadian per share and the granting of these options were approved by the Board on June 1, 2015. These options will vest immediately. Number of options issued to directors and executives are noted below:
| Director or Executive Officer | Present office | Number of Common Shares Owned, Beneficially Held or Controlled | % of Class Held or Controlled | Number of existing share options | Exercise price of existing share options | Expiry date of existing share options | New options granted | Total options held following grant | ||
| Ronald Alexander | Director | 112,000 | 0.10% | 50,000 | $0.50 | Sept 6/16 | 100,000 | 150,000 | ||
| Lionel J. Gunter | Non-Executive Chairman and Director | 3,393,088 | 3.90% | 100,000 | $0.50 | Sept 6/16 | 200,000 | 300,000 | ||
| Roland Phelps | President and Chief Executive Officer and Director | 21,472,916 | 24.60% | 200,000 | $0.50 | Sept 6/16 | 500,000 | 700,000 | ||
| James B. Clancy | Director | 36,846 | 0.04% | 50,000 | $0.50 | Sept 6/16 | 100,000 | 150,000 | ||
| James I. Golla | Director | 20,000 | 0.02% | 50,000 | $0.50 | Sept 6/16 | 100,000 | 150,000 | ||
| Leo O'Shaughnessy | Chief Financial Officer | 320,500 | 0.40% | 50,000 | $0.50 | Sept 6/16 | 200,000 | 250,000 |
The total number of incentive stock options outstanding prior to this award was 940,000 with an exercise price of $0.50 Canadian per share resulting in the total number of incentive stock options now outstanding for the Company being 4,490,000.
As at June 3, 2015 Galantas Gold Corp. Issued and Outstanding Shares total 87,297,155.
This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corp..
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.
Contact
Galantas Gold Corp.
Jack Gunter P.Eng, Chairman
+44 (0) 2882 241100
Galantas Gold Corp.
Roland Phelps C.Eng, President & CEO
+44 (0) 2882 241100
info@galantas.com
www.galantas.com
Grant Thornton UK LLP (Nomad)
Philip Secrett
Richard Tonthat
+44(0)20 7383 5100
Whitman Howard Ltd (Broker & Corporate Adviser)
Neil Pidgeon
Nick Lovering
+44(0)20 7659 1234