TSXV: GMIN
OTCQX:
GMINF
BROSSARD, QC, Jan. 30,
2023 /CNW/ - G Mining Ventures Corp.
("GMIN" or the "Corporation") (TSXV: GMIN) (OTCQX:
GMINF) is pleased to announce that it has recently obtained
conditional approval from the TSX Venture Exchange for the adoption
of a new omnibus equity incentive plan (the "New Plan"). As
of the date hereof, the New Plan will replace the Corporation's
current 2019 stock option plan (the "2019 Plan"). The
Corporation intends to submit the New Plan for approval by its
shareholders at its next annual meeting.
Pursuant to the New Plan, the Corporation will be entitled to
grant deferred share units, stock options, performance share units,
restricted share units and stock appreciation rights to employees,
officers or directors of, or consultants to, the Corporation or any
of its subsidiaries, with the number of common shares issuable
thereunder, together with the number of shares issuable under the
2019 Plan, not to exceed 7.5% of the total number of shares
outstanding from time to time.
As of the date hereof, the Corporation currently has
8,822,888 options outstanding under the 2019 Plan. The
Corporation intends for those options to continue to be governed by
the terms of the 2019 Plan. The Corporation will submit such awards
for shareholder approval at its next annual meeting.
In accordance with the Corporation's 2019 Plan, the Board of
Directors granted, earlier today, to officers and employees of the
Corporation, an aggregate of 3,151,199 stock options of the
Corporation (the "Options"), each Option conferring upon its
holder the right to purchase one common share in the capital of the
Corporation (each a "Share" and collectively, the
"Shares"), for a following period of five (5) years and for
an exercise price for each Option is C$0.80 per Share. The vesting terms are: one
third (1/3) one (1) year after the date of grant, one third (1/3)
two (2) years after the grant, and one third (1/3) three (3) years
after the grant.
In accordance with the Corporation's New Plan, the Board of
Directors granted, earlier today, to:
- directors of the Corporation, an aggregate of 900,000 Deferred
Share Units of the Corporation (the "DSUs"), each DSU
conferring upon its holder the right to receive, without payment of
any consideration, one Common Share or, at the Corporation's
option, a cash payment equal to the Fair Market Value (as defined
in the Plan) of such Common Share (with the additional option of
receiving any combination of cash and Common Shares), the whole in
accordance with Part 5 of the Plan; and
- officers of the Corporation, an aggregate of 752,188 Restricted
Share Units of the Corporation (the "RSUs"), each RSU
conferring upon its holder the right to receive, without payment of
any consideration, one Common Share or, at the Corporation's
option, a cash payment equal to the Fair Market Value (as defined
in the Plan) of such Common Share (with the additional option of
receiving any combination of cash and Common Shares), the whole in
accordance with Part 8 of the Plan.
The vesting terms are:
- for DSUs: upon the DSU holder ceasing to act in capacity of
director of the Corporation, but not earlier than the first
anniversary of the date of grant; and
- for RSUs: one third (1/3) the first anniversary of the date of
grant, one third (1/3) the second anniversary of the date of grant,
and one third (1/3) the third anniversary of the date of
grant.
About G Mining Ventures Corp.
G Mining Ventures Corp.
(TSXV: GMIN) (OTCQX: GMINF) is a mining company engaged in the
acquisition, exploration and development of precious metal
projects, to capitalize on the value uplift from successful mine
development. GMIN is well-positioned to grow into the next mid-tier
precious metals producer by leveraging strong access to capital and
proven development expertise. GMIN is currently anchored by its
flagship Tocantinzinho Gold Project in mining friendly and
prospective Pará State, Brazil.
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 press release.
Cautionary Statement on Forward-Looking Information
All statements, other than statements of historical fact,
contained in this press release constitute "forward-looking
information" and "forward-looking statements" within the meaning of
certain securities laws and are based on expectations and
projections as of the date of this press release. Forward-looking
statements contained in this press release include, without
limitation:
A. those related to obtaining the requisite
shareholder approval of the New Plan at the Corporation's next
annual meeting; and
B. more generally, the contents of the above
section entitled "About G Mining Ventures Corp.".
By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and
risks exist that estimates, forecasts, projections and other
forward-looking statements will not be achieved or that assumptions
do not reflect future experience. Forward-looking statements are
provided for the purpose of providing information about
management's expectations and plans relating to the future. Readers
are cautioned not to place undue reliance on these forward-looking
statements as a number of important risk factors and future events
could cause the actual outcomes to differ materially from the
beliefs, plans, objectives, expectations, anticipations, estimates,
assumptions and intentions expressed in such forward-looking
statements. All of the forward-looking statements made in this
press release are qualified by these cautionary statements and
those made in the Corporation's other filings with the securities
regulators of Canada including,
but not limited to, the cautionary statements made in the relevant
sections of the Corporation's (i) Annual Information Form dated
June 3, 2022, for the financial year
ended December 31, 2021, and (ii)
Management Discussion & Analysis. The Corporation cautions that
the foregoing list of factors that may affect future results is not
exhaustive, and new, unforeseeable risks may arise from time to
time. The Corporation disclaims any intention or obligation to
update or revise any forward-looking statements or to explain any
material difference between subsequent actual events and such
forward-looking statements, except to the extent required by
applicable law.
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content:https://www.prnewswire.com/news-releases/g-mining-ventures-reports-adoption-of-new-omnibus-equity-incentive-plan-301734034.html
SOURCE G Mining Ventures Corp
