(TheNewswire)
Toronto, Ontario, TheNewswire, January 1 2 ,2023 – NewOrigin Gold Corp. ( TSX-V: NEWO ) is aCanadian junior explorer active in Ontario and Quebec. On November4, 2022, the Company announced the appointment of Michael Farrant asChief Financial Officer and Andrew Thomson as new lead director of theCompany. In addition, Alex Rodriguez Tovalino was newly elected tothe Company’s Board of Directors (the “ Board ”) atNewOrigin’s Annual and Special Meeting of shareholders held onNovember 30, 2022 (the “ AGM ”). The Company elected to wait untilafter completion of its most recent $0.05 unit financing on December 20, 2022to announce the grant of options resulting from these management andBoard changes.
Stock option grants are governed by the terms of theCompany's incentive stock option plan approved by NewOriginshareholders at the November 30, 2022 AGM (the " Stock Option Plan "). The Board of the Company grants stock options fromtime to time as part of its strategy to incent and retain a strongteam to drive growth.
Pursuant to the Company’s Stock Option Plan, initialstock options have been granted to NewOrigin’s new CFO, new directorand additional stock options granted to the new lead director topurchase up to an aggregate of 700,000 common shares of the Company atan exercise price of $0.10 per share for a term of five years withimmediate vesting (the “ Options ”). It should be noted the optionsare priced at double the prior day’s closing share price.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. is a Canadian gold exploration company focused ondrill discovery at its Sky Lake gold project in the Canadian Shield.NewOrigin’s management and Board have extensive experience in thedelineation and development of gold deposits. NewOrigin trades on theTSX Venture Exchange under the ticker “ NEWO ”.
For Further InformationContact:
Andrew Thomson, Lead Director & CEO
Phone: 905-727-1779
at@neworigingold.com or visit www.neworigingold.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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