TORONTO, December 21, 2015 /Marketwired/ - Dalradian Resources Inc. (TSX:DNA; AIM:DALR) ('Dalradian' or the 'Company') announces that the Company issued 2,050,000 stock options to its directors and a further 250,000 stock options to staff on December 18. The stock options were issued in accordance with Dalradian's Stock Option Plan, are exercisable into common shares of Dalradian at $0.67 (being the closing price on the Toronto Stock Exchange on December 17, 2015) over a five-year term. Vesting is immediate for the 250,000 options granted to Dr. Adshead-Bell. For the remaining option grants, 683,334 vest immediately on the day the options were granted ('Grant Date'), 683,333 12 months after the Grant Date and the final 683,333 24 months after the Grant Date.
The following table provides a breakdown of the stock options issued to directors and staff:
|
Directors and staff
|
Stock options issued
|
Total stock options held following the grant
|
|
Thomas Obradovich
|
150,000
|
800,000
|
|
Ron Gagel
|
150,000
|
700,000*
|
|
Patrick Downey
|
150,000
|
400,000
|
|
Jonathan Rubenstein
|
150,000
|
550,000
|
|
Sean Roosen
|
150,000
|
850,000*
|
|
Jim Rutherford
|
150,000
|
400,000
|
|
D. Grenville Thomas
|
150,000
|
550,000
|
|
Nicole Adshead-Bell
|
250,000
|
250,000
|
|
Patrick F.N. Anderson
|
750,000
|
2,150,000*
|
|
Marla Gale
|
175,000
|
475,000
|
|
Other staff
|
75,000
|
250,000
|
|
Total
|
2,300,000
|
7,375,000*
|
Following the grant, the total number of options under the Company's Stock Option Plan are 11,035,000.
* 1,250,000 options with an exercise price of $0.75 are due to expire on January 6, 2016: 250,000 each held by Mr. Gagel and Mr. Roosen and 750,000 held by Mr. Anderson. In addition, 400,000 options with an exercise price of $0.25 are due to expire on January 6, 2016: 250,000 held by Mr. Anderson and 150,000 held by Mr. Roosen.
About Dalradian Resources Inc.
Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its
high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The Company is in the midst of a work program in support of a planning (permitting) application for construction of an operating mine at Curraghinalt. Components of the program include a feasibility study, an environmental and social impact assessment, infill drilling and underground exploration (885 metres of development with two test stopes).
For more information:
Marla Gale
Vice President Communications
+1 416 583 5622
[email protected]
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett / Richard Tonthat / Harrison Clarke
+44 (0)20 7383 5100
Canaccord Genuity Limited (Broker)
Henry Fitzgerald-O'Connor / Martin Davison
+44 20 7523 8000