RENO, Nev., March 15, 2022 (GLOBE NEWSWIRE) -- NuLegacy Gold Corporation announces that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase up to an aggregate of 9,420,000 common shares exercisable on or before March 14, 2027 at a price of $0.05 per share, representing a premium of approximately 140% over the Company's recent average trading price. The options have been allocated amongst 16 "core" individuals in consideration for their long-standing commitment and ongoing dedication and service to the Company.
The Company has also amended existing stock options held by certain of the above-noted employees and consultants expiring September 13, 2022. Subject to acceptance of the TSX Venture Exchange, a total of 1,830,000 options have been re-priced from $0.235 to $0.05 per share and extended to March 14, 2027. None of the amended options are held by directors or officers of the Company.
After giving effect to the foregoing, the Company's total stock options outstanding represent approximately 7.17% of the current issued and outstanding shares of the Company.
On Behalf of the Board of NuLegacy Gold Corporation,
Albert Matter, Chief Executive Officer & Founding Director
Tel: +1 (604) 639-3640; Email: albert@nuggold.com
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Neither the 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.