TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, July 14, 2020 /CNW/ - Garibaldi Resources Corp.
(TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce
that it has granted to directors, officers and employees of the
Company Incentive Stock Options on up to 700,000 shares of the
Company's capital stock, exercisable for up to five (5) years, at a
price of $1.25 per share, which price
is not lower than the last closing price of the Company's shares
prior to this announcement, less the applicable discount.
Of the total 700,000 director and employee options, 125,000
options were granted pursuant to a management agreement
dated February 11, 2020 (see news
release dated Feb.12, 2020) upon signing.
Pursuant to this Agreement the Company grants a further 375,000
options to a director which options are subject to vesting
provisions at a rate of 125,000 shares every three months.
Quarterly vesting will begin from the date that performance
conditions stipulated in the agreement are met.
Separately, a balance of 200,000 director and employee options
are granted to employees of the company under the same terms
outlined in the opening paragraph. The options are granted pursuant
to the Company's Stock Option Plan and will be subject to
applicable regulatory hold periods.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior
exploration company focused on creating shareholder value through
discoveries and strategic development of its assets in some of the
most prolific mining regions of British
Columbia and Mexico.
We seek safe harbour.
GARIBALDI RESOURCES CORP.
per: "Steve
Regoci"
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or the accuracy of
this release.
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content:http://www.prnewswire.com/news-releases/garibaldi-grants-stock-options-301093536.html
SOURCE Garibaldi Resources Corp.
