GALANTAS REPORTS AWARD OF INCENTIVE STOCK OPTIONS

RNS Number : 6449A

Galantas Gold Corporation

27 March 2017

 

GALANTAS GOLD CORPORATION

TSXV & AIM : Symbol GAL

GALANTAS REPORTS AWARD OF INCENTIVE STOCK OPTIONS

March 27, 2017:  Galantas Gold Corporation (the 'Company') , reports that it has awarded 4,900,000 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 March 25 2022, is $0.135 Canadian per share and the grant of these options was approved by the Board on March 25 2017. The options will vest as to one third on March 25 2017 and one third on each of the following two anniversaries. The majority (76.5%) of the share options in this issuance have been awarded to non-directors, mainly employees (existing or newly appointed) directly involved in operations at the wholly owned Omagh gold mine, now in engaged in underground development.

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	0.07%	100,000	$0.105	June 1st, 2020	100,000	200,000
Lionel J. Gunter	Non-Executive Chairman and Director	3,393,088	1.99%	200,000	$0.105	June 1st, 2020	200,000	400,000
Roland Phelps	President and Chief Executive Officer and Director	33,356,750	19.52%	500,000	$0.105	June 1st, 2020	500,000	1,000,000
James B. Clancy	Director	36,846	0.02%	100,000	$0.105	June 1st, 2020	100,000	200,000
James I. Golla	Director	20,000	0.01%	100,000	$0.105	June 1st, 2020	100,000	200,000
Leo O'Shaughnessy	Chief Financial Officer	320,500	0.19%	200,000	$0.105	June 1st, 2020	200,000	400,000

The total number of incentive stock options outstanding prior to this award was 3,700,000 with an exercise price of $0.105 Canadian per share resulting in the total number of incentive stock options  now outstanding for the Company being 8,600,000.   

As at March 3, 2017 Galantas Gold Corporation Issued and Outstanding Shares total 170,894,087.

This disclosure has been authorised by Roland Phelps (President & CEO) Galantas Gold Corporation.

The Incentive Stock Option award is subject to TSX Venture Exchange approval.

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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.

Enquiries : Galantas Gold Corporation
L. Jack Gunter P.Eng - Chairman,  Roland Phelps C.Eng - President & CEO

Email: [e-mail]  Telephone: (UK) [phone]

Website: www.galantas.com 

Grant Thornton UK LLP (Nomad)

Philip Secrett, Richard Tonthat: Telephone: [phone]

Whitman Howard  Ltd (Broker & Corporate Adviser)

Nick Lovering, Grant Barker: Telephone: [phone]

………………………………………………………………………………………………………………………

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Ronald Alexander
2.	Reason for the notification
a)	Position/status:	Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   100,000
d)	Aggregated information	100,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Lionel J. Gunter
2.	Reason for the notification
a)	Position/status:	Non-Executive Chairman and Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   200,000
d)	Aggregated information	200,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Roland Phelps
2.	Reason for the notification
a)	Position/status:	President and Chief Executive Officer and Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   500,000
d)	Aggregated information	500,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	James B. Clancy
2.	Reason for the notification
a)	Position/status:	Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   100,000
d)	Aggregated information	100,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	James I. Golla
2.	Reason for the notification
a)	Position/status:	Director
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   100,000
d)	Aggregated information	100,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS

1.	Details of the person discharging managerial responsibilities/person closely associated
a)	Name:	Leo O'Shaughnessy
2.	Reason for the notification
a)	Position/status:	Chief Financial Officer
b)	Initial notification/Amendment:	Initial Notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name:	Galantas Gold Corporation
b)	LEI:	LEI: 213800JKVPLLKO4KVB93
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification Code	Common Shares of nil par value  ISIN: CA36315W2022
b)	Nature of the transaction	Grant of options to acquire shares
c)	Price(s) and volume	CDN$0.135   200,000
d)	Aggregated information	200,000 options to acquire shares at CDN$0.135 per share
e)	Date of the transaction	25th March 2017
f)	Place of the transaction	Outside a trading venue

 

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