Initial Grant of Stock Options to Directors and Officers
BROSSARD, QUÉBEC, January 26, 2021 – G Mining Ventures Corp. (the “Corporation”) (TSX-V: GMIN) announces that, in accordance with the Corporation’s Stock Option Plan, the Board of Directors granted, earlier today, to the directors and officers of the Corporation, an aggregate of 2,146,540 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 $1.02 per Share. The vesting terms are:
-
for directors
: one third (1/3) upon the date of grant, one third (1/3) one (1) year after the date of grant, and one third (1/3) two (2) years after the date of grant; and
-
for officers
: 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 addition, the Board of Directors concurrently granted an additional 2,000,000 Options (the “Additional Options”) to Louis-Pierre Gignac, which is a unique one-time grant, provided that:
-
the duration for Additional Options shall be ten (10) years from their grant date;
-
the Additional Options shall not be exercisable prior to five (5) years from their grant date; and
-
the exercise price for each such Additional Option is $2.04 per Share, such price representing a 100% premium to the exercise price of the option grant described above.
About G Mining Ventures Corp.
The Corporation is a mineral exploration company which has been, up to now, focused on the exploration and development of the Cameron Lake Property, located in the west-central part of Québec.
As disclosed in the October 23, 2020 and subsequent press releases, the Corporation has been actively pursuing its objective of acquiring a significant mining asset in 2021.
A corporate website will be established during the coming weeks at: www.gminingventures.com.
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, those related to the above “About G Mining Ventures Corp.” paragraph which essentially expresses the Corporation’s goal. Forward-looking statements are based on expectations, estimates and projections as of the time of this press release. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Corporation as of the time of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. These estimates and assumptions may prove to be incorrect.
Many of these uncertainties and contingencies can directly or indirectly affect, and could cause, actual results to differ materially from those expressed or implied in any forward-looking statements. There can be no assurance that the Corporation will acquire a significant gold asset in year 2021, or ever, as future events could differ materially what is currently anticipated by the Corporation.
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 section of the Corporation’s 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.
Further information regarding the Corporation is available in the SEDAR database (www.sedar.com).
FOR FURTHER INFORMATION, PLEASE CONTACT:
Louis-Pierre Gignac
President & Chief Executive Officer
450-465-1950, ext. 201
lpgignac@gminingventures.com