TIDMAEXG

RNS Number : 1443Z

AEX Gold Inc

20 January 2022

"AEX" or the "Company")

Award of stock options

TORONTO, ONTARIO - January 20, 2022 - AEX Gold Inc. (AIM: AEXG; TSXV: AEX), an independent gold company with a portfolio of exploration licences in Greenland, announces that it has granted incentive stock option awards ("Options") to employees and a consultant of AEX to acquire an aggregate of 4,100,000 common shares under the Company's Stock Option Plan at $0.60 per share with an expiry date of January 17, 2027. Of these, 1,100,000 were awarded to Eldur Olafsson and 900,000 were awarded to Jaco Crouse.

DEALING NOTIFICATION FORM

FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY

AND THEIR CLOSELY ASSOCIATED PERSONS

 
 1.     Details of the person discharging managerial responsibilities/person 
         closely associated 
  a)    Name:                               (i)Eldur Olafsson 
                                             (ii)Jaco Crouse 
       ----------------------------------  --------------------------------------------- 
 2.     Reason for the notification 
       --------------------------------------------------------------------------------- 
  a)    Position/status:                    ( i) Chief Executive Officer and 
                                             Director 
                                             (ii)Chief Financial Officer and 
                                             Director 
       ----------------------------------  --------------------------------------------- 
  b)    Initial notification/Amendment      Initial notification 
       ----------------------------------  --------------------------------------------- 
 3.     Details of the issuer, emission allowance market participant, 
         auction platform, auctioneer or auction monitor 
       --------------------------------------------------------------------------------- 
  a)    Name                                AEX Gold Inc 
       ----------------------------------  --------------------------------------------- 
  b)    LEI:                                213800Q21S5JQ6WKCE70 
       ----------------------------------  --------------------------------------------- 
 4.     Details of the transaction(s): section to be repeated 
         for (i) each type of instrument; (ii) each type of transaction; 
         (iii) each date; and (iv) each place where transactions 
         have been conducted 
       --------------------------------------------------------------------------------- 
  a)    Description of the financial        Common shares of no par value 
         instrument, type of instrument:     in AEX Gold Inc. 
 
         Identification code:                ISIN: CA00108V1022 
       ----------------------------------  --------------------------------------------- 
  b)    Nature of the transaction:          Grant of Options 
       ----------------------------------  --------------------------------------------- 
  c)    Price(s) and volume(s):                                Price(s)     Volume(s) 
                                                                Nil        (i)1,100,000 
                                                                            (ii) 900,000 
                                                                          -------------- 
       ----------------------------------  --------------------------------------------- 
  d)    Aggregated information:             2,000,000 
       ----------------------------------  --------------------------------------------- 
  e)    Date of the transaction(s):             17 January 2022 
       ----------------------------------  --------------------------------------------- 
  f)    Place of the transaction                 XOFF 
       ----------------------------------  --------------------------------------------- 
 

Enquiries:

AEX Gold Inc.

Eldur Olafsson, Director and CEO

+354 665 2003

eo@aexgold.com

Eddie Wyvill, Investor Relations

+44 (0) 7713 126727

ew@aexgold.com

Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)

Callum Stewart

Simon Mensley

Ashton Clanfield

+44 (0) 20 7710 7600

Panmure Gordon (UK) Limited (Joint Broker)

John Prior

Hugh Rich

Dougie Mcleod

+44 (0) 20 7886 2500

Camarco (Financial PR)

Billy Clegg

Emily Hall

+44 (0) 20 3757 4980

For Company updates:

Follow @AexGold on Twitter

Follow AEX Gold Inc. on LinkedIn

Further Information:

About AEX

AEX's principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation's principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold assets covering 4,090km (2) , the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.

Forward-Looking Information

This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation's current expectations regarding future events and the future growth of the Corporation's business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under "Risk Factors" in the Final Prospectus available under the Corporation's profile on SEDAR at www.sedar.com . Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Inside Information

This announcement does not contain inside information

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END

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January 20, 2022 10:51 ET (15:51 GMT)

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