(TheNewswire)
Vancouver, BC – TheNewswire - April 18, 2024 – Hanstone Gold Corp. (TSXV:HANS) (FRA:HGO) (the“ Company ” or “ Hanstone ”) announcesthat the Company’s board of directors (the “Board”) has approvedthe repricing (the “Repricing”) of an aggregate of 2,954,000 stockoptions (the “Options”) previously issued under the Company’sstock option plan. The Repricing is subject toapproval of the TSX Venture Exchange (the "TSXV") anddisinterested shareholder approval. Approval for the Repricing will besought at the Company’s Annual General and Special Meeting of theshareholders of the Company (the "Meeting") to be held onJune 7, 2024.
On April 18, 2024 the Board resolved that, subject toapproval of the TSXV and approval of the Company's shareholders by wayof disinterested shareholder approval at the Meeting, 2,954,000outstanding Options be repriced from exercise prices of between $0.18and $0.58 per common share to $0.10 per common share. In the contextof the recent average trading price of the Company's common shares onthe TSXV, the Options as currently priced may no longer offer anadequate incentive to Option holders. Recognizing that Option grantsare a critical element of the Company's compensation policy, the Boardis of the view that it is in the best interests of the Company toreprice the Options to $0.10, which remains a premium to the currentmarket price of the Company’s shares, to ensure that the exerciseprice of the Options is more in line with recent average tradingprices. Additional information regarding the Repricing will beavailable in the management information circular prepared inconnection with the Meeting.
About Hanstone Gold Corp
Hanstone is a precious and base metals explorer withits current focus on the Doc and Snip North Projects optimally locatedin the heart of the prolific mineralized area of British Columbiaknown as the Golden Triangle. The Golden Triangle is an area whichhosts numerous producing and past-producing mines and several largedeposits that are approaching potential development. The Company holdsa 100% earn-in option on the 1,704-hectare Doc Project and owns a 100%interest in the 3,336-hectare Snip North Project. Hanstone has ahighly experienced team of industry professionals with a successfultrack record in the discovery of gold deposits and in developingmineral exploration projects through discovery to production.
For Further InformationContact:
Ray Marks, President
+1-(778)-896-7778,ray.marks@hanstonegold.com
Or visit the Company’s website at www.hanstonegold.com
Forward Looking StatementsDisclaimer
The information contained hereincontains “forward-looking statements” within the meaning of theUnited States Private Securities Litigation Reform Act of 1995 and“forward-looking information” within the meaning of applicableCanadian securities legislation. “Forward-looking information”includes, but is not limited to, statements with respect to theactivities, events, or developments that the Company expects oranticipates will or may occur in the future. Generally, but notalways, forward-looking information and statements can be identifiedusing words such as “plans”, “expects”, “is expected”,“budget”, “scheduled”, “estimates”, “forecasts”,“intends”, “anticipates”, or “believes” or the negativeconnotation thereof or variations of such words and phrases or statethat certain actions, events, or results “may”, “could”,“would”, “might” or “will be taken”, “occur” or “beachieved” or the negative connotation thereof.
Forward-looking information andstatements are based on the then current expectations, beliefs,assumptions, estimates and forecasts about Hanstone’s business andthe industry and markets in which it operates and will operate.Forward-looking information and statements are made based uponnumerous assumptions, including among others, the results of plannedexploration activities are as anticipated, the price of gold, the costof planned exploration activities, that financing will be available ifneeded and on reasonable terms, that third party contractors,equipment, supplies and governmental and other approvals required toconduct Hanstone’s planned exploration activities will be availableon reasonable terms and in a timely manner and that general businessand economic conditions will not change in a material adverse manner. Although theassumptions made by the Company in providing forward-lookinginformation or making forward-looking statements are consideredreasonable by management at the time, there can be no assurance thatsuch assumptions will prove to be accurate.
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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