Key points
- Diamond Fields Resources granted options for up to 900,000 common shares at 20 cents per share, effective Dec. 6, 2022.
- The options expire on the fourth anniversary of the grant date, with 100% vesting on the first anniversary.
- The exercise price matches options granted Sept. 22, 2022 and the subscription price used in DFR’s US$3.1 million equity financing announced March 11, 2022.
- A balance of 150,000 options remains available under DFR’s Fixed Stock Option Plan, which permits up to 17,800,000 options in total.
Diamond Fields Resources Inc. has granted new stock options to eligible participants for the purchase of up to 900,000 common shares at an exercise price of 20 cents per share, effective as at Dec. 6, 2022.
The New Options will expire on the fourth anniversary of the Grant Date, with 100% of the New Options vesting on the first anniversary of the Grant Date. The exercise price of the New Options is the same as the options granted on September 22, 2022 and the subscription price which was used in the US$3.1m equity financing announced on March 11, 2022. This pricing is intended to ensure continued alignment of interests among shareholders, management and directors.
The New Options were granted under DFR’s Fixed Stock Option plan (the “Plan”) which enables the Company to issue up to 17,800,000 Stock Options, being less than 10% of the Company’s issued and outstanding common shares.
A balance of 150,000 Stock Options remains available for future grants under the Plan.
Notes to Editors:
DFR is a TSX Venture Exchange listed exploration and mine development company focused on gold and other commodities in Africa. DFR holds interests in a portfolio of West African gold exploration projects including the highly prospective Cascades Gold Project in Burkina Faso. The Cascades Project has a Mineral Resource prepared in accordance with NI 43-101 comprising 5.41 million tonnes of indicated resources at an average grade of 1.52 g/t Au for a total 264,000 ounces of gold; and 6.93 million tonnes of inferred resources at an average grade 1.67 g/t Au for a total of 371,000 ounces of gold.
In Madagascar, DFR has an advanced high grade hard rock zircon exploration prospect located in the west of the country, approximately 220km east of the port of Maintirano and close to a state road. DFR acquired Beravina from Pala Investments and Austral Resources in 2016.
