Mr. Nick Appleyard reports
TRISTAR GOLD CORPORATE UPDATE AND GRANTING OF EMPLOYEE STOCK OPTIONS
Tristar Gold Inc. has appointed Rod McKeen as an independent director of Tristar. Rod McKeen is a retired lawyer with over 35 years of experience in all facets of securities and corporate law, with a focus on the mining and mineral exploration industry. Rod has significant expertise in corporate governance, and has previously served on a number of public company boards over the years including International Minerals and Queenstake Resources. Rod will replace Len Krol, who has resigned as a director of Tristar, so the number of directors remains unchanged at six.
Mr. Nick Appleyard, President and CEO stated "We would like to thank Len for his nine years of work and dedication to Tristar and wish him all the best in his retirement. Likewise, we are very happy to welcome Rod to the board. His experience and knowledge will be a great asset to us."
Royal Gold Inc. has confirmed that it will make the second installment payment of US$1.5 million to Tristar by November 30, 2019, pursuant to the royalty sale agreement announced in the Company's press release dated August 6, 2019. In accordance with the agreement, upon receipt of the second installment Tristar will grant Royal Gold 3,928,000 stock purchase warrants.
Tristar has also granted, subject to TSX Venture Exchange ("TSXV") approval, an aggregate of 2,710,000 stock options to certain officers, directors, employees and consultants in accordance with the Company's current stock option plan. The options are exercisable for a period of 5 years to acquire common shares of Tristar at an exercise price of C$0.20 per share, which represents the closing price on the TSXV on November 26, 2019.
Tristar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is Castelo de Sonhos in Para State, Brazil.
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