VANCOUVER, Aug. 8, 2019 /CNW/ - Mako Mining Corp. (TSX-V:
MKO) ("Mako" or the "Company") today announced the
grant of 42,500,000 incentive stock options to its officers and
directors pursuant to the stock option plan of the Company.
The number of shares reserved for issuance under the stock options
is 42,500,000 common shares, representing approximately 7% of the
current issued and outstanding common shares of the Company.
The stock options have a term of five years and vest as to 25%
immediately upon grant and as to 25% on each of the three
anniversaries of the grant date. The stock options have
increasingly higher exercise prices as of each vesting date,
ranging from $0.1625 to $0.35 per common share, which prices are well
above the current market price of the common shares on the TSX
Venture Exchange. The average exercise price of the stock
options is approximately $0.25625 per
common share, which is currently approximately 100% higher than the
trading price of the Company's common shares as of the date of
grant.
About Mako Mining Corp.
Mako Mining Corp. is a publicly listed gold mining, development
and exploration firm. The Company is developing its high-grade San
Albino gold project in Nueva
Segovia, Nicaragua. Mako's
primary objective is to bring San Albino into production quickly
and efficiently, while continuing exploration of prospective
targets in Nicaragua.
Forward-Looking Statements
Some of the statements contained herein may be considered
"forward-looking information" within the meaning of applicable
securities laws, including statements regarding the expected market
price of the common shares of Mako, the successful
development of the San Albino gold project in Nueva Segovia, Nicaragua and the primary objective of
the Company to bring San Albino into production quickly and
efficiently, while continuing exploration of prospective targets in
both Mexico and
Nicaragua. Mako believes that the expectations reflected in
its forward-looking information are reasonable, such information
has been based on factors and assumptions concerning future events
that may prove to be inaccurate. These factors and assumptions are
based upon currently available information to Mako. Such
information is subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and
cause actual results or events to differ materially from those
stated, anticipated or implied in the forward-looking information.
A number of important factors including those set forth in other
public filings could cause actual outcomes and results to differ
materially from those expressed in these forward-looking
statements. Factors that could cause the actual results to differ
materially from those in forward-looking statements. Readers are
cautioned to not place undue reliance on forward-looking
statements. The statements in this press release are made as of the
date of this release and, except as required by applicable law,
Mako does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a
result of new information, future events or otherwise.
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.
SOURCE Mako Mining Corp.
