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MONTREAL, July 12, 2018 /CNW/ - MONARQUES GOLD CORPORATION ("Monarques" or the "Corporation") (TSX-V:MQR) (OTCMKTS:MRQRF) (FRANKFURT:MR7) is pleased to announce, as of July 12, 2018, the grant of 2,360,000 stock options (individually, an "Option" and collectively, the "Options") to directors, officers, employees and consultants.
The Corporation granted 2,085,000 Options to directors, officers and a manager (Mr. Jean-Marc Lacoste (President, Chief Executive Officer and director), Mr. Michel Bouchard (Chairman of the Board and director), Mr. Christian Pichette (Director), Mr. Michel Baril (Director), Mr. Guy Bourassa (Director), Mr. Alain Lévesque (Vice-President, Finance and Chief Financial Officer), Mr. Marc-André Lavergne (Vice-President, Operations) and Mrs. 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 $0.31 per common share for a period of 5 years from July 12, 2018.
The maximum number of Options that can be issued is 23,305,296 Options, representing 10% of the number of shares outstanding. The number of Options that will be outstanding following the grant is 9,965,000 Options, which represents 4.3% of the number of shares outstanding.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold Corporation (TSX.V:MQR) 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 km² of gold properties (see map), including the Beaufor Mine, the Croinor Gold (see video), Wasamac, McKenzie Break and Swanson advanced projects, and the Camflo and Beacon mills, as well as six promising exploration projects. It also offers custom milling services out of its 1,600 tonne-per-day Camflo mill. Monarques enjoys a strong financial position and has more than 150 skilled employees who oversee its operating, development and exploration activities.
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. 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 press release.
SOURCE Monarques Gold Corporation
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Jean-Marc Lacoste, President and Chief Executive Officer, 1-888-994-4465, jm.lacoste@monarquesgold.com, www.monarquesgold.com; Elisabeth Tremblay, Senior Geologist - Communications Specialist, 1-888-994-4465, e.tremblay@monarquesgold.com, www.monarquesgold.com