Mr. Jean-Marc Lacoste reports
MONARQUES GOLD ANNOUNCES THE GRANT OF STOCK OPTIONS TO DIRECTORS, OFFICERS, EMPLOYEES AND CONSULTANTS
Monarques Gold Corp., as of July 12, 2018, has granted 2.36 million stock options to directors, officers, employees and consultants.
The corporation granted 2,085,000 options to directors, officers and a manager (Jean-Marc Lacoste (president, chief executive officer and director), Michel Bouchard (chairman of the board and director), Christian Pichette (director), Michel Baril (director), Guy Bourassa (director), Alain Levesque (vice-president, finance, and chief financial officer), Marc-Andre Lavergne (vice-president, operations) and Lucie Desjardins (director, legal affairs, and corporate secretary)), and 275,000 options have been granted to consultants. These options are governed by the stock option plan of the corporation, as currently in force.
The options are vested in four equal tranches, and each option entitles the holder to purchase one common share of the corporation at a price of 31 cents per common share for a period of five years from July 12, 2018.
The maximum number of options that can be issued is 23,305,296 options, representing 10 per cent of the number of shares outstanding. The number of options that will be outstanding following the grant is 9,965,000 options, representing 4.3 per cent of the number of shares outstanding.
About Monarques Gold Corp.
Monarques Gold is an emerging gold producer focused on pursuing growth through its large portfolio of high-quality projects in the Abitibi mining camp in Quebec, Canada. The corporation currently owns close to 300 square kilometres of gold properties.
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